OABA URGES CONGRESS TO ACT ON EXPORT TAX ISSUE

Pentalties will be stiff if they don't!

OABA has joined a number of national and state associations and organizations in emphasizing the urgency of resolving the FSC/ETI export tax issue as soon as possible. Quick passage of legislation is necessary to both comply with our WTO obligations and minimize retaliation against U.S. products.

The European Union (EU) has increased the retaliatory tariff from 7 percent to 8 percent on as much as $4 billion per year of American products. Further Congressional delay will ultimately result in tariffs of 17 percent. Affected products include those from agriculture. These retaliatory tariffs are hurting U.S. exports to Europe at a time when they are just beginning to rebound and the global economy is showing signs of renewed growth. Moreover, these tariffs negatively impact jobs of American workers.

We are urging the U.S. House to act as the Senate did and pass FSC/ETI legislation immediately and proceed to conference as soon as possible.

We encourage you to contact your congressman.