The proposed rule is to increase the ceiling for informal entry from $2000 to $2500 should be postponed, or if passed, should have an effective date of 2015.
A net loss of $11 Million to the US Treasury during a financial crisis is a disservice to our nation. While a very limited number of importers may benefit from the proposed rule, the vast majority of importers will fail to appreciate any benefits of the proposed rule and one has to question the genesis of the proposed rule.
Although I resist changing the ceiling, should the ceiling be changed, it should be changed to $3000. The author states the ceiling has not changed since 1998 and the proposed rule reflects adjustments for inflation. Based on actual US CPI the increase from 1998 to 2011 is 39.28%; therefore in today’s dollars the ceiling would be $2786. To raise the ceiling to $3000 would reduce future administrative burdens to both CBP and US Treasury
Comment Submitted by Frank Lipinski
This is comment on Proposed Rule
Informal Entry Limit and Removal of a Formal Entry Requirement
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