CPA News Digest

PRESS RELEASE: OCTOBER TRADE DEFICIT ROSE 17%, GOVERNMENT REPORT

FOR IMMEDIATE RELEASE Contact: Paola Masman, Media Director 202-688-5145 ext 2, paola@prosperousamerica.org Washington ~ The Bureau of Economic Analysis (BEA) released a report yesterday showing that the US goods and services deficit rose by nearly 17% compared to September.

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A Republican Corporate Tax Plan Liberals Can Like

[Noah Smith| December 06, 2016 |Bloomberg] Few are paying attention, but a proposal now working its way through Congress could change the U.S.’s whole approach to trade, industrial policy and taxation. The plan would exempt income earned on exports from corporate taxation. Today, corporations pay federal taxes on the profits they make from goods and services sold overseas; only the location of the company’s headquarters matters. Under the new proposal, taxes would be based on where the sales are made. The Republican plan also cuts the top corporate tax rate from 35 percent to 20 percent and limits the deductibility of interest expenses, among other changes.

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Japanese trade observers doubt bilateral U.S. deal possible, hope for TPP

[Daily News| December 06, 2016 |Inside US Trade] Members of the Japanese business, academic, and think tank communities are holding out hope that President-elect Trump will eventually get behind the Trans-Pacific Partnership, and in light of that and other factors, seriously doubt that the U.S. and Japan will successfully pursue a bilateral trade deal in the near future.

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Bill’s ‘Buy America’ Provision Sets Up Potential Clash for GOP, Donald Trump

[ BRODY MULLINS and KRISTINA PETERSON | December 02, 2016 |The Wall Street Journal] WASHINGTON—Setting the stage for what could be the first clash between President-elect Donald Trump and Congress, House Speaker Paul Ryan and some congressional Republicans are raising concerns about a provision in a bill that would require the use of American-made iron and steel for U.S. water infrastructure projects.

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Trump, on Twitter, knocks China on currency and tariffs

[Daily News| December 05, 2016 |Inside US Trade] President-elect Donald Trump turned to Twitter on Sunday to knock China on currency manipulation and tariffs.

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Trade, Trump, and the Economy: What Does Greg Mankiw's Textbook Say?

[Dean Baker| December 04, 2016 |Beat the Press] Harvard professor, textbook author, and occasional New York Times columnist Greg Mankiw told readerstoday that Donald Trump's economic team is wrong to worry about the trade deficit.

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TPA opponents Lipinski, Brooks introduce resolution urging elimination of U.S. trade deficit

[Daily News| December 02, 2016 |Inside US Trade] Reps. Dan Lipinski (D-IL) and Mo Brooks (R-AL) – who last year voted against granting President Obama Fast Track Authority – have introduced a bipartisan resolution urging the president and Congress to tackle the U.S. trade deficit “over a reasonable period of time.”

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Trump's Treasury pick talks currency manipulation pledge

[Daily News| December 02, 2016 |Inside US Trade] President-elect Donald Trump has said he intends to name China a currency manipulator on “day one” of his administration. But this week his pick to lead the Treasury Department, Steven Mnuchin, said that Treasury, the Commerce Department and the Office of the U.S. Trade Representative would coordinate on the decision and take action if necessary.

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TTP Caucus Co-Chair Now Wants Trade Representative Job

[Alan Gray| December 1, 2016 |NewsBlaze] In a move that has Trans-Pacific Partnership (TPP) opponents’ heads spinning, Rep. Charles Boustany, the republican TPP Caucus co-chair, has his hand up for U.S. Trade Representative. Opponents say Boustany’s trade positions and his voting record should preclude him from consideration. He has not only supported, but pushed many of the things Donald Trump is against.

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BROOKS/LIPINSKI INTRODUCE BIPARTISAN RESOLUTION SEEKING BALANCED TRADE

FOR IMMEDIATE RELEASE Annalyse Keller Annalyse.Keller@mail.house.gov (202) 225-4801 12/1/2016

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