Is someone trying to make us feel better about the potential increase in the Harbor Maintenance Fee (HMF) by giving the bill a catchy name? H.R. 2355, Making Opportunities Via Efficient and More Effective National Transportation (MOVEMENT) Act proposes and increase in the HMF from .125 percent to .4375 percent of the value of imported cargo. In addition, the scope of the HMF would be expanded to all ports that collect taxes, this includes seaports and land ports. HMF of .3125 percent would be collected on goods that enter the customs territory of the U.S. via a foreign port, such as Quebec or Vancouver. However, the HMF would not apply to goods that originate in Canada or Mexico. If approved, over 70% of the fees would be allocated to the Department of Transportation for certain projects to improve the transportation infrastructure, including homeland security projects.
How would this increase affect a shipment valued at $100,000?
$100,000 x .125% = $125
$100,000 x .4375% = $437.50
Increase $312.50
Importers, be prepared to see an increase in your HMF if we see MOVEMENT because of this bill.
Click HERE to view the full text of H.R. 2355.
Monday, June 8, 2009
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