Rep. Bill Owens and a Texas Republican colleague are calling on two federal government bigwigs to back off a proposed regulation that would require businesses to file more paperwork.
Certain companies within "foreign trade zones" can bring in raw goods from overseas, manufacture them and then, presto changeo, they don't have to pay certain tariffs on the original goods. There's an FTZ right here in Watertown, including a hockey tape manufacturer that makes products for some of the biggest stars in the National Hockey League.
But the federal government apparently wants companies to fill out an extra form to get permission to even start seeking to bring in goods, which will cost the companies time and money, Mr. Owens and Rep. Kevin Brady, R-Texas, said in the letter to Secretary of Commerce John Bryson and Treasury Secretary Timothy Geithner.
Here's the letter in full:
Ftz Letter Final 12 23 2011