7 Nov 2007

US committee backs bill to extend American Samoa's tax credits

2:38 pm on 7 November 2007

The US House Committee on Ways and Means is supporting federal legislation which would extend tax credits for one year for American Samoa's canneries.

The credits are one of the main reasons the canneries are located in American Samoa and their possible removal has raised significant concerns about the territory's economic future.

The American Samoan member of the US Congress, Faleomavaega Eni Hunkin, says Committee Chairman Charles Rangel has also promised to work on a more permanent solution for the territories once the canneries can agree on what tax incentives work best for them.