Chamber Applauds Trade Bill, Denounces Energy Tax Proposal

In a victory for the Chamber and its members, the House overwhelmingly approved a bill to extend a trade program with Andean countries.

The Chamber wrote to Congress this week urging it to renew a program that gives preferential trade treatment to Bolivia, Ecuador, Colombia and Peru. The program, which was enacted in 1991, “has surpassed expectations as a tool to generate trade, growth, and jobs in the Andean region,” according to the Feb. 25 letter. The Chamber also urged members of Congress to pass legislation implementing free trade agreements with Colombia and Panama, but there has been no action yet.

The Chamber also sent a letter to members of Congress urging them to vote against a bill that would take away allowable deductions for oil and gas companies and change the rules for foreign tax credits. “This change would discourage energy investment, result in the loss of jobs, and ultimately, decrease supply and increase energy costs for businesses that rely on oil and gas,” the Chamber said in the Feb. 26 letter.

Read the letters.

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