(Filed Under wholesale Classic Slippers/Shoes News). Senators Maria Cantwell and John Ensign have formally re-introduced the bipartisan Affordable Footwear Act, which would “eliminate the regressive and hidden tax paid on most lower-cost and children’s shoes, or about 50 percent of the shoes sold in the United States,” said a statement released by the AAFA.
The legislation would provide tax relief for American families who are currently paying over 40 percent of the cost of a shoe in stores to account for import duty, also known as shoe tax, on shoes made outside of the U.S. According to the statement, 99 percent of the shoes purchased by U.S. consumers each year are produced outside of the country.
The Affordable Footwear Act would reportedly eliminate approximately $800 million in duties on children’s and low-priced shoes, helping pass as much as $2 billion in savings to U.S. consumers.
“In 2008, the U.S. government collected over $1.7 billion in duties on imported shoes, far more than any other duty collected on any other single imported good,” said the statement. “The added cost to cover the duties directly resulted in consumers paying almost $5 billion more than they needed to at the store for their shoes.”
To view a complete list of co-sponsors and learn more about the Act, visit www.endtheshoetax.org.see more
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