Customs user fees help cut US deficit. (import fees)

Daily News Record, December, 1987 by Schwartz, Lloyd

Customs User Fees to Help Cut US Deficit

Congress approved $33 billion in fiscal 1988 deficit reductions early Tuesday, which includes retaining the Customs User Fee.

In addition, the Budget Reconciliation Act involves $9 billion in other business-related taxes designed to make the Federal Government money and meet the provisions of the Gramm-Rudman deficit reduction law. Despite these new cutbacks, the federal deficit for this fiscal year is still expected to be close to last year's $148 billion level.

The controversial Customs user fees, which are paid by importers for goods clearing Customs, are expected to bring in $122 million this fiscal year and $152 million in 1988.

The fees were first instituted last year on a temporary...

Read the rest of this article with a Free Trial at HighBeam Research.

Premium Content Partnership | HighBeam Research provides an in-depth online archive library of reference works.