The Arizona District Export Council is committed to stimulating economic development in Arizona by promoting and assisting in international trade. The following include ADEC’s priority legislative initiatives for 2015.
- Export Import Bank Reauthorization: Ex-Im Bank is a key institution in promoting American exports. Last year alone it supported over $37 billion in U.S. exports that sustained more than 200,000 U.S. jobs at 3,400 companies. Ex-Im Bank operates at no cost to the taxpayer, and it has a track record of generating a profit for the government. Last year alone, the Bank sent $1 billion to the U.S. Treasury. The Arizona District Export Council supports permanent reauthorization of this essential export promotion tool. Click here to learn more about Ex-Im.
- Trade Promotion Authority: Trade Promotion Authority (“TPA”), (legislation whereby Congress grants the President the flexibility to negotiate trade agreements on behalf of the US, subject to Congress’s pre-defined negotiating objectives, oversight and consultation process), is a key element in our nation’s ability to negotiate strategically important trade agreements that enhance U.S. competitiveness (i.e. TTIP, TPP, and TISA). The Arizona District Export Council supports TPA passage by Congress during the 2015 legislative session. Click here to learn more about TPA.
- Trans-Pacific Partnership: The Trans-Pacific Partnership (TPP), a regional trade agreement that the United States is negotiating with 11 other countries throughout the Asia-Pacific region (Australia, Brunei Darussalam, Canada, Chile, Japan, Malaysia, Mexico, New Zealand, Peru, Singapore, and Vietnam). It will remove trade barriers for U.S. goods and services, improve intellectual property protection, and create new 21st century trade rules. Efforts should be made to expeditiously conclude and pass the TPP agreement. Click here to learn more about TPP and it’s impact in Arizona.
- Transatlantic Trade Investment Partnership: The Transatlantic Trade and Investment Partnership (T-TIP), a regional trade and investment agreement being negotiated between the United States and it’s largest collective trading partner, the European Union, will help unlock economic opportunity and further U.S. job growth through increased access to European markets for Made-in-America goods and services. The Arizona District Export Council supports T-TIP passage by Congress during the 2015 legislative session. Click here to learn more about TTIP.
- Trade in Services Agreement: The Trade in Services Agreement, currently being negotiated by the U.S. with 20 other countries, addresses major and fundamental barriers to trade in services affecting the United States and the globe, and if successful could result in an overall U.S. services export increase of $800 billion. The Arizona District Export Council supports TISA and encourages its prompt conclusion.
- WTO Environmental Goods Agreement: Expand the scope of the existing APEC agreement (Asian Pacific Economic Cooperation) to include additional WTO nations with the goal of reducing tariffs on additional environmental goods.
- Internet Tax Freedom: Since its initial enactment in 1998, the Internet Tax Freedom Act (ITFA) has banned federal, state and local governments from taxing Internet access charges as well as from assessing multiple taxes on electronic commerce in order to “promote and preserve the commercial, educational and informational potential of the Internet.” ITFA is set to expire at the end of 2014, and there is a real risk that Internet access will become burdened by a patchwork of federal, state and local taxes. The Arizona District Export Council supports Congress’s enactment of a permanent ban on multiple and discriminatory taxes on access to the Internet, as provided in the ITFA, during the 2015 Legislative session.
- Comprehensive Corporate Tax Reform: The current U.S. corporate tax rate, the highest of all the Organization for Economic Co-operation and Development countries, puts U.S. companies at a competitive disadvantage with their global competitors. The Arizona District Export Council supports Congress’s reduction of the U.S. corporate tax rate and enactment of a territorial international tax system that ends the country’s current practice of taxing corporate earnings on a global basis.
- Export Control Reform Initiative (ECR): US Trade in advanced technology products and services is regulated by a number of unilateral and multi-partite agreements, which limit international trade, often times with good reason. However, the pace of technology development is rapid, especially in the commercial markets, and while the US has long been a dominant player, the current export control regime is creating an unleveled playing field with our international competitors, which has detrimental effect on US competitiveness and domestic economic prosperity. In August 2009, the Obama administration launched a comprehensive review of our export control system. The ECR is in its final phases of review and revision. We support completion and approval of this important initiative.
- Foreign Direct Investment: Support development of and funding for a State Foreign Direct Investment Strategy that is aligned with the State’s target industries attraction efforts. Target industries include health & bioscience, semiconductor and electronics, information technology, energy, aerospace, aviation and defense, telecommunications, optics and e-learning.
- ACA State Promotional Effort: Support continuation of State funding at appropriate levels for the Arizona Commerce Authority, and support the ACA’s mission as the platform for the State’s economic development efforts.