Find us on:
The U.S. Chamber in the news - August 28
But if environmental groups are pushing hard on one side, industry and pro-business groups are pushing hard on the other — with ads like this one produced by the US Chamber of Commerce: "Shale energy means good paying job for New Yorkers and millions in revenues for our communities," the ad promises.
Many business leaders want the U.S. to adopt a so-called territorial tax regime, in which companies would pay U.S. taxes only on their domestic, rather than world-wide, income. That would bring the U.S. in line with most other rich countries. While Mr. Romney favors such a shift, the Obama administration has argued that a territorial system would encourage more U.S. companies to shift operations abroad. But Martin Regalia, chief economist at the U.S. Chamber of Commerce, says it would make U.S.-based companies more competitive globally. "To the extent that U.S. firms are more competitive in world markets, they will likely create more jobs in total, both here and abroad," he says.
Lobby groups such as the US Chamber of Commerce are dismayed at the delay, which prevents Washington granting Moscow “permanent normal trade relations”, or PNTR.
Interestingly, though, China is a major source of money for his campaign. Not countering the money being funneled through organizations-- like the U.S. Chamber of Commerce and Rove's outfit-- that skirt or ignore the laws that says only Americans are allowed to give, Romney's campaign has reported $114,500 from China, second in terms of overseas contributions, only to the U.K.