1、Congressional Research Service The Library of Congress Washington, D.C. 20540 CARIBBEAN BASIN INITIATIVE IPO 190C On February 24, 1982, President Reagan announced an new program to assist approximately two dozen small, developing countries in the Caribbean, Central America, and northern South Americ
2、a. The original Caribbean Basin Initiative (CBI) proposed free trade arrangements, tax incentives for investments, and foreign aid to improve economic conditions which threaten political and social stability in the region. During the 97th Congress, the foreign aid portion of the CBI was passed as pa
3、rt of the 1982 General Supplemental Appropriations bill, which became law (P.L. 97-257) on September 10, 1983. The trade and tax provisions of the CBI were not enacted. On August 5, 1983, President Reagan signed Public Law 98-67, which provides duty-free entry into the United States for certain Cari
4、bbean exports and allows U.S. business people to take tax deductions for the expense of attending conventions in the Caribbean region. This Info Pack includes information on the broad outline of the initiative; the reactions of the congressional,business, and international communities; legislative a
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