Melissa Tallman published US Solar Manufacturers Need Washington's Continued Support in Op-Eds & Press Releases 2020-10-22 09:40:51 -0400
Tariffs and eliminating loopholes have helped--let's keep up the pressure on China.
The United States is in the midst of a contentious election cycle. However, President Donald Trump and former Vice President Joe Biden have demonstrated agreement on some key issues. The Trump administration, for example, has shown that tariffs can bring back important manufacturing sectors, including steel. And the Biden campaign has pledged to reshore U.S. manufacturing.Read more
Melissa Tallman published Public Company Corporate Tax Under the TCJA and Sales Factor Apportionment in Articles 2020-10-21 16:08:12 -0400
In this article, published in Tax Notes Federal on Sept 21, 2020, CPA Chief Economist Jeff Ferry and CPA Board Member Bill Parks analyze the federal corporate tax paid by the S&P 500 companies in 2019 and find they paid on average less than 9% in cash federal tax last year. The authors compare it to two alternative tax systems, flat-rate sales factor apportionment, and sales factor apportionment with a progressive sliding scale from 10% to 45%. The look at the revenue and economic implications of the alternative tax systems. Our estimates show that by replacing the current system with an SFA system at 21 percent, the United States could have expected to earn an additional $97.8 billion in federal corporate tax receipts for 2019.Read more
Melissa Tallman published Rethinking Agriculture and the WTO in Op-Eds & Press Releases 2020-10-19 16:52:42 -0400
CPA sent the following letter to Trade Ambassador Robert Lighthizer supporting efforts to reform the WTO because it has not helped farm and ranch income. WTO rules also wrongly prevent the US from creating an effective agro-industrial strategy for rural America.Read more
Melissa Tallman published Why OECD is Now Center of Global Tax Debate in Articles 2020-10-16 16:31:10 -0400
By David Morse
The passage of the 2017 Tax Cut and Jobs Act (TCJA) lit the fuse for corporate tax reform that has been debated internationally over the last two years. Essentially, the United States' willingness to recognize failures in the international tax system have now prompted action in other countries. However, there has been a continuing inability to resolve overall tax avoidance issues. And at this point, control of the discussion has moved to into the international arena via discussions at the Organization for Economic Cooperation and Development (OECD).Read more
Melissa Tallman published CPA Letter on Renewal of Generalized System of Preferences in Op-Eds & Press Releases 2020-10-15 14:50:33 -0400
RE: Five Suggested Reforms for the Generalized System of Preferences (GSP)
Dear Chairman Grassley and Chairman Neal,Read more
Melissa Tallman published A More Competitive Dollar Would Boost US Manufacturing in Op-Eds & Press Releases 2020-10-14 12:39:42 -0400
The rising dollar--35% in the past nine years--makes U.S. exports more expensive overseas.
In March, the Federal Reserve was forced to act in order to avert an international financial crisis. With corporations around the world closing down at the start of the COVID-19 crisis, payments from customers stopped. Foreign companies needed funding to meet their obligations. But they found banks suffering an acute dollar shortage. At the same time, large investment funds were trying to sell off stocks and bonds in order to buy U.S. assets. All of this sent the dollar’s exchange rate soaring.Read more
Melissa Tallman published CPA Praises Presidential Proclamation on U.S. Solar Manufacturing in Op-Eds & Press Releases 2020-10-12 08:57:42 -0400
Trump administration closes tariff loophole on imports of bifacial solar panels
Washington. The Coalition for a Prosperous America (CPA) has strongly praised a new proclamation by President Trump intended to accelerate the growth of America’s solar manufacturing industry. The president’s proclamation will close a loophole for tariffs on imported solar panels and also slow step-down in the tariff rate to 18 percent for 2021. CPA has long called for action to defend America’s burgeoning solar industry against subsidized imports from China, and has urged the elimination of a tariff exemption for “bifacial” solar panels. The president’s action is expected to safeguard thousands of skilled, good-paying jobs in America’s solar sector while also preserving opportunities for future growth.Read more
Melissa Tallman started a monthly donation 2020-10-08 16:41:16 -0400
Melissa Tallman started a monthly donation 2020-10-08 16:38:22 -0400
Melissa Tallman published CPA Says Move to Eliminate Tariffs on PPE Would Sabotage US Manufacturing, Health Care in Op-Eds & Press Releases 2020-10-08 11:57:29 -0400
The Coalition for a Prosperous America (CPA) charged that a new Senate bill to eliminate all tariffs on personal protective equipment (PPE) would sabotage U.S. manufacturing of these vital health care supplies and should be opposed by all who want to rebuild the U.S. health care manufacturing industry to safeguard the health of the American public.
CPA said that the Stop PPE Taxes Act, a bill advanced by Senator Toomey (R-PA) and Senator Hassan (D-NH) and sponsored by Senator Feinstein (D-CA), would undermine the U.S. PPE industry, which is seeing a revival in U.S. production of masks and other essential supplies. The bill would waive tariffs on imported personal protection equipment through 2022.Read more
Melissa Tallman published U.S. Corporations Still Avoiding Corporate Taxes in Op-Eds & Press Releases 2020-10-08 11:51:14 -0400
David Morse is tax policy director at the Coalition for a Prosperous America Education Fund. Follow him on Twitter @CentristinIdaho.
There was a lot of fuss in late 2017 when Congress passed the Tax Cut and Jobs Act (TCJA). The legislation was expected to significantly revamp America’s tax system — and hopefully tackle the thorny issue of corporate tax avoidance.Read more
Melissa Tallman published Book shows how to put the 'tough' in 'tough on China' in Buy American from around the Web 2020-10-07 09:33:38 -0400
CPA's Take: Roger Simmermaker has written multiple books on buying American and trade policy since 1996, and has been a CPA member since 2017.
Both presidential candidates are trying to out-tough each other on China. Both have "Buy American" proposals, and agree somewhat on "Buy American" and trade policy.Read more
Melissa Tallman published Ambassador Robert Lighthizer issues Statement on Release of August 2020 Trade Data in CPA's Take on the News 2020-10-06 17:07:10 -0400CPA’s Take: Today USTR Robert Lighthizer took the unusual step of issuing a statement on today’s monthly trade figures.
Washington, DC – Ambassador Robert Lighthizer issued the following statement today concerning the August 2020 trade data released by the U.S.Department of Commerce:Read more
Melissa Tallman published CPA Testimony on Economic Modeling of Trade Agreements in Articles 2020-10-06 07:56:21 -0400
On Oct. 6th, CPA testified at a hearing of the US International Trade Commission on trade agreements. We focused on the failure of economic models to accurately forecast the impact of trade agreements on the US economy. We demonstrated how modifications of the standard economic model for trade can make the model more accurate. We back-test our modified model on the US-South Korea KORUS trade agreement of 2011 and found that our model performed much better than the standard model used by the ITC in a published report in the runup to KORUS. Our modifications to the model allow for national differences in import preferences and for the fact that import penetration can lead to unemployment in the importing nation. Our modifications illustrate our first steps on a path to make economic models of trade more realistic and the forecasts more accurate.
Melissa Tallman published The U.S. needs to support American-made medicines in CPA's Take on the News 2020-10-05 17:49:05 -0400CPA’s Take: CivicaRX CEO Martin VanTrieste explains why it is essential, and achievable to reshore pharmaceutical production to the US.
Two years ago, a group of U.S. hospitals launched Civica Rx, a nonprofit generic drug company that I have the honor to lead. Its core mission is to deliver quality medicines at sustainable prices.
RSVP below for the CPA Buy America Committee conference call. This committee focuses upon increasing purchases of USA made products by the federal government, companies, and consumers. Read the goals and mission of this committee here.
When | Thursday, October 22, 2020 |3:00 pm Eastern Time. VIEW THE AGENDA
Committee Chairs | Greg Owens, Sherill Manufacturing and Jim Stuber, Alltham P.B.C
How to Join | Computer:meet.google.com/fen-rhyh-hrh
Conference call etiquette: If this is your first time joining, please introduce yourself to the group. Please keep your phone/computer microphone muted while others are presenting.WHENOctober 22, 2020 at 3pm
Melissa Tallman published Buying “Made in China” May Support Slave Labor in Insider Commentary 2020-10-02 15:18:28 -0400
One of the consequences of President Clinton’s granting China Most Favored Nation status and allowing them to become a member of the World Trade Organization is that China took over production of consumer goods previously made in the USA. As a result, the consumer products you buy that are “Made in China” may be made by slave labor.
The Global Slavery Index published by the Minderoo Foundation “estimates that on any given day in 2016 there were over 3.8 million people living in conditions of modern slavery in China, a prevalence of 2.8 victims for every thousand people in the country. This estimate does not include figures on organ trafficking…Much of its rapid economic development has been the result of a domestic economy specialising in the production of labour-intensive, cheap goods for export. Forced labour mainly occurs in the production of these goods, including in the manufacturing and construction sectors, as well as in more informal industries...,Other labour-intensive industries in China are also creating a demand for low-paid foreign labour. The sugarcane industry in China’s southern Guangxi province attracts an estimated 50,000 illegal Vietnamese workers. Factory towns in Southern China have been found to employ illegal workers from Vietnam on a widespread basis.”Read more
Melissa Tallman published US Job Gains Slip Under A Million, But Is Enough To Reduce Unemployment Rate in Op-Eds & Press Releases 2020-10-02 13:28:03 -0400
The US economy gained 661,000 jobs in September, far below the 1.4 million jobs added in August as coronavirus restrictions continue to lift, but it was enough to take another bite out of the unemployment rate. September unemployment declined to 7.9% from 8.4% in August, the Bureau of Labor Statistics (BLS) reported today.
The Private Sector Job Quality Index (JQI) produced by the Coalition for a Prosperous America (CPA) and its partners, however, was down once again. September’s JQI slipped by 0.36%, not much different than the previous month, to land at 82.93 points. It was 83.26 points in August.Read more
Melissa Tallman published CPA Praises New Executive Order on Critical Minerals in Op-Eds & Press Releases 2020-10-01 11:44:22 -0400
Boost to domestic mining will reduce dependence on China
Washington. The Coalition for a Prosperous America (CPA) today praised the Trump administration for issuing an executive order to secure domestic U.S. sources of critical minerals, including rare earth metals. The order will task the Department of the Interior with developing a program to fund domestic mineral processing needed for national security. It will also address America’s broken mine permitting system, which has resulted in an alarming increase in mineral import reliance.Read more