Eni Faleomavaega: “given that American Samoa's private- sector economy is more than 80 percent open dependent either directly or indirectly…”

“given that American Samoa's private- sector economy is more than 80 percent open dependent either directly or indirectly on the U.S. tuna processing and fishing industries, I rise in support of H.R. 3996 which includes a provision to extend IRS 30A tax credits to American Samoa. While I asked for a 10-year extension of our tax credits, I understand that all tax extenders included in this bill received the same extension of 1-year only. Chairman Rangel has also promised to continuing to work with me on a more permanent solution for American Samoa once our local canneries agree on what incentives work best for them. It is unfortunate that StarKist and Chicken of the Sea could not reach agreement in a timely manner regarding whether or not 30A is the best option for them to remain and invest in American Samoa. Earlier this year, both canneries agreed that 30A was the way forward. By mid- year, our canneries were at odds. Our canneries have also been unable to provide Chairman Rangel with a clear indication of whether or not they will stay in American Samoa if they are provided with tax credits. During last Congress, our canneries also failed to provide Chairman Thomas of the Ways and Means Committee with assurances of their commitment to American Samoa. Regardless, I still support 30A tax credits for American Samoa, and especially for our tuna fishing and processing industries.”