GSP Not Part of Tax Package
An agreement between the chairmen of the House Ways and Means and the Senate Finance committees includes authorization for the administration to negotiate a fix to tax laws for foreign investment in Taiwan but doesn't include a renewal of the Generalized System of Preferences benefits program.
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The tax package, released Jan. 16, mostly restores tax benefits for businesses -- such as accelerated depreciation and research and development credits -- and increases the child tax credit, including by adjusting it for inflation.