In an unpredicted turn of events, drawback simplification legislation might actually be ready to move through Congress! While we have seen this before, we have reasons to believe this bill has more momentum than in the past.
Currently, Congress is reviewing legislation for Customs Reauthorization (including drawback) in H.R. 1907, H.R. 1916 (similar to 1907, but includes an enforcement provision) and S. 1015, which will all be reconciled at some point. AGOA, Generalized System of Preferences, and preferential duties for Haiti are all being discussed in H.R. 1891. We certainly were surprised to see the retroactive provision for GSP going back to July of 2013 when the legislation previously lapsed. With so much money on the table to be given back, we’re not sure how this will be handled, or why Congress decided to make it retroactive.
Keep your eyes open in the next few weeks because this legislation is moving quickly and these changes will affect how your business operates.
