The Chamber’s International Public Affairs Committee has targeted four major issues impacting the global businesses of DFW: globalization, immigration, tax and trade.

The Chamber presented positions on each issue to the congressional delegation of the Metroplex last month, and emphasized the need to complete legislation before the end of 2004.

A summary of the four issues:

·         Globalization-- To assure that DFW businesses are successful, the Chamber supports legislation that promotes free trade; global competitiveness; increased funding for research and development of innovative new products and services; increasing the technically skilled workforce; and reductions to the cost of doing business to foster increased foreign investment and jobs. The Chamber opposes any legislation that closes markets or promotes protectionist measures and diminishes businesses global competitiveness.

·         Immigration--With increased emphasis on homeland security, new immigration policies have created major roadblocks for the region’s businesses. The ability to obtain visas and waivers for specially trained professionals, foreign students and healthcare workers has reached a critical state. We support creation of new visa categories as well as increased waivers for certain jobs, reform for H-1B and L-visa policies. We appreciate the recently passed delay of the Biometric Passport implementation for one year.

·         Trade Promotion--The Greater Dallas Chamber has long supported free trade. Many important negotiations have been completed in 2004, including US-CAFTA (Central American Free Trade Agreement), US-Morocco and US-Australia and await implementation. There are several agreements still in negotiation with countries such as Thailand and the Andean countries. We support the passage of those agreements to further promote trade development.

·         International Taxation--As we look for ways to assist businesses in stimulating the economy and the recovery, two taxation issues are at the forefront: Extraterritorial Income Exclusion (ETI) and the one-time reduction in the rate of taxation for corporate profits earned overseas, an item in the Homeland Investment Act. We urge Congress to finalize and pass the legislation for these items.