A bill to boost the ailing Virgin Islands watch industry moved a step closer to becoming law Tuesday with passage of a larger bill in the U.S. House of Representatives, Delegate Donna Christian-Christensen announced.
H.R. 435, a bill making technical changes to various trade laws, includes a section to expand the laws providing for a federal tax credit on wages paid for persons employed in the V.I. watch industry to be extended to jewelry manufactured in the territory.
In remarks on the bill, Christensen thanked House Ways and Means Committee Chairman Bill Archer, Trade Subcommittee Chairman Philip Crane, Ranking Democrat Sander Levin and Reps. Charles Rangel and Bill Jefferson for their support in getting the bill to the floor for a vote Tuesday.
“My district is one of those areas of this country that still has not experienced the economic boom that is taking place in many of our rural areas and cities," Christensen said. "The part of this miscellaneous tariff bill that would extend preferences for watches to include certain fine jewelry…. is a bright ray of hope, and an important shot in the arm for our economy.”
H.R. 435 was scheduled to be brought to the floor last week but was pulled because the House strongly objected to the possibility that members of the U.S. Senate would add extraneous items to it, the delegate said.
Tuesday's passage means that the Senate should pass the bill shortly and send it on to President Clinton for his signature, she added. The jewelry bill almost became law last year, but time ran out before the Senate was able to act on it.
