Is Pro-U.S. Shipbuilding Bill A Local Threat?
February 3, 2000 Copyright © 2000 CARIBBEAN BUSINESS. All Rights Reserved. A bill to encourage a greater role by U.S. shipbuilders in the booming cruise industry is being studied carefully by the Puerto Rico hotel industry. Of interest is the provision in it which would lift a ceiling on the tax-deductibility of conventions held on cruise ships, Rick Newman, president of the Puerto Rico Hotel & Tourism Association (PRHTA) told CARIBBEAN BUSINESS. The All American Cruise Act, HR3392, was introduced into the U.S. House of Representatives in November and is being reintroduced in the new session which has just commenced. There is a similar version in the U.S. Senate. Both have strong bipartisan support from the Louisiana delegations because of the importance of shildbuilding there. Most of the provisions in the bills are intended to encourage more participation in the cruise trade by U.S. shipbuilders but in the fine print is a proposed modification to repeal the $2,500 business tax-deduct
