CPA Applauds Chairman Jason Smith’s Reappointment to Lead House Ways and Means Committee
CPA is proud to support Chairman Smith as he continues to champion policies that prioritize American workers and to rebuild our nation’s productive capacity.
CPA is proud to support Chairman Smith as he continues to champion policies that prioritize American workers and to rebuild our nation’s productive capacity.
For Mr. Lutnick to lead the tariff and trade agenda in the next Administration, he will need an aligned Treasury Secretary to executive critical policies on customs revenue generation, customs valuation, and de minimis.
CPA will be working closely with President-Elect Trump’s team to craft policies that will make a lasting impact on U.S. trade and industrial policy.
When George Washington was President, consensus existed that tariffs should be used for both (1) federal revenue purposes, and also (2) to protect domestic production. This consensus was embodied in the first sentence of the first U.S. Tariff Act, passed on July 4, 1789.
The Tax Foundation bills itself as the “world’s leading nonpartisan tax policy nonprofit”, but they do not understand the basic concepts of how tariffs work — or even what they are.
The bipartisan legislation would prevent any company with ties to a Foreign Entity of Concern from receiving the 45X Advanced Manufacturing Tax Credit.
A 10% “universal” tariff on all U.S. imports, combined with a schedule of income tax cuts would generate economic growth of $728 billion and 2.8 million additional jobs, according to the CPA economic model of the U.S. economy.
When asked about China, both Trump and Biden should say that China’s trade surplus is an insult to the world and a huge disruptor to our economy.
CPA’s chief economist Jeff Ferry joined two other panelists Wednesday to talk trade in an hour-long webinar by Industry Week magazine titled the “2024 Manufacturing Economy First Half Checkup.”
Last week, Republicans and Democrats from the Senate’s Joint Economic Committee squared off against each other – with one side arguing in favor of industrial policy programs like the Inflation Reduction Act – and the other side arguing in favor of lower corporate taxes.