House Ways and Means Republican Argues for Renewing GSP, MTB in Lame Duck

Rep. Adrian Smith, R-Neb., wrote a column arguing in favor of reauthorizing the Generalized System of Preferences benefits program and the Miscellaneous Tariff Bill before they expire at the end of the year. “Renewing these programs, which have enjoyed bipartisan support, will reduce costs and uncertainty for American businesses as they continue to grapple with the effects of COVID," he said. "GSP benefits all Americans by promoting economic growth in developing countries while also providing a tool for the U.S. to encourage good practices like protecting intellectual property, providing reasonable market access to U.S. exports, and treating U.S. investors fairly. Letting GSP lapse would raise the average tariff by 3.5 percent for small businesses in Nebraska while decreasing our leverage to ensure developing nations are raising standards and playing fairly in the global marketplace.”