6 Oct 2008

Law to extend tax credits to American Samoa's canneries signed off

10:28 am on 6 October 2008

American Samoa Congressman, Faleomavaega Eni, says President Bush has signed the Emergency Economic Stabilization Act of 2008 into law.

Faleomavaega's provision to extend the tax credits for American Samoa's canneries was included in the law.

Faleomavaega says that in these financially difficult times when the US federal government is having to bailout Wall Street to protect Main Street, he thanks his colleagues for supporting his efforts to protect American Samoa's economy in the process.

He says American Samoa's economy is more than 80 dependent either directly or indirectly on the US tuna fishing and processing industries.

He said the passage of tax breaks to stabilize cannery operations was critical for protecting the jobs of some 5,000

cannery workers.