August 19, 2019
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AWB to host aerospace industry stakeholder meeting

The Citizen Commission on Performance of Tax Preferences will meet on Sept. 5 to discuss recommendations from the Joint Legislative Audit and Review Committee (JLARC) on the performance of Washington's aerospace industry tax preferences.

AWB has heard from some of its many aerospace industry members that there is interest in us convening a meeting to discuss and prepare effective public testimony. And so, in advance of that public meeting, AWB will host a meeting on Monday, Aug. 26 from 10 a.m.-noon.

The public comment is important to provide industry input and perspective on the recommendations of the Joint Legislative Audit and Review Committee (JLARC) 2019 aerospace industry report on the performance of Washington's aerospace industry tax preferences.

The Legislative Auditor is recommending that the legislature clarify its expectations of the level of aerospace industry employment, such as a baseline level of industry performance. The role of the Citizen Commission is to either endorse or not endorse the legislative auditor's recommendation.

The comments and vote of the Citizen Commission can have important impacts on whether the Legislature decides to look at performance metrics and “clawbacks” for the aerospace industry tax incentives.

Contact Clay Hill, AWB government affairs director for tax and fiscal policy, to RSVP for in-person or call-in participation in this meeting or to learn more about this issue.

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America Needs the Ex-Im Bank

Help state's diverse exporters keep making sales

By The (Everett) Herald Editorial Board

As a "good, and easy to win" trade war escalates with China, now would be a dumb time to take a useful tool away from Washington state's exporters of wine, seafood, software and -- oh, yes -- airliners and other advanced manufactured products.

Especially so, since that tool's full utility was restored only earlier this spring after being left hobbled for nearly four years.

That tool is the U.S. Export-Import Bank.

The Export-Import Bank, in operation for 85 years, helps businesses large and small by providing loans, insurance and other assistance that help promote exports by those businesses. That trade assistance helps those businesses secure sales that otherwise might not be facilitated by private-sector banks. While the federal government provides some funding for the bank's administration, its lending makes the bank self-supporting, and it actually is a money-maker for the nation, returning $5.2 billion to the U.S. Treasury during the last 10 years...

Read the full editorial in The Herald
Trade War Casualties

The Tariff Battle With China Threatens Washington's Well-Being

By Spencer Cohen

If left unchecked, the trade war between the U.S. and China has the potential for long-lasting damage to the Washington state economy. U.S. businesses have many legitimate grievances toward China, including intellectual property theft and industrial policies that seemingly disadvantage them in China. But the longer the dispute remains unresolved, the greater the risk to Washington's historically prosperous trade relationship with China. Trade wars, as a general rule, yield no true winners. The collateral damage -- in terms of lost overseas market share, aggravated supply chains, a reduction of cargo handled at our ports, reduced investment, and impacts to households in the form of higher costs -- can be pernicious.

Washington's close linkages with China make this region all the more vulnerable to an extended contraction of trade, impacting local businesses and communities across the state. For years, U.S.-China economic ties have helped mollify impulses for more aggressive agitation and flare-ups. A reduction in economic interdependence means less economic benefits are immediately at stake from a more strained relationship or even confrontation, a dangerous scenario for the world and Washington state's economic well-being.

Read the full editorial in Seattle Business Magazine