There are reports in American Samoa that the U.S. Senate has cut the canneries tax credit extension from a congressional measure, approved this week by President Bush.
The canneries' current tax credit 30A, which expires on the last day of 2007, requires the canneries to make their tax claims based on wage credits.
Last month the U.S. House passed a measure which included a one-year extension of 30A tax credits for American Samoa's canneries as well as one-year extensions for other federal tax programs.
Samoa News reports the federal measure was amended by the U.S. Senate and deleted the canneries extension as well as extensions of other federal programmes.
However, the newspaper says that when a new bill passes, with the extension, the tax credits will be retroactive, just like the last time and the canneries won't lose any money.
