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JAPAC Lobbies U.S. Officials on Synthetics Wording

Jun 22, 2016 9:10 AM   By Rapaport News
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RAPAPORT... The Jewelers of America Political Action Committee (JAPAC) criticized a planned change to a key jewelry guide that would allow the term “cultured” when referring to synthetic diamonds.

JAPAC is opposed to the proposed amendment to the Federal Trade Commission’s “Guides for the Jewelry, Precious Metals, and Pewter Industries” that would permit the use of the word when describing lab-grown diamonds.

A JAPAC-led delegation of jewelers raised the issue with lawmakers in Washington, D.C., on June 15. Officials expressed interest in supporting JA’s position, with Rep. Steve Stivers, a Republican congressman from Ohio, noting his willingness to discuss the concerns with fellow lawmakers.

The delegates also discussed sales-tax fairness, pushing for passage of the Remote Transactions Parity Act (RTPA) in the House of Representatives and the Marketplace Fairness Act (MFA) in the Senate. The legislation would level the playing field on taxation between online and brick-and-mortar businesses, JAPAC said.

“Jewelers of America’s annual trip to Washington, D.C., is a critical piece of our overall efforts to give a strong voice to the industry, because decision makers on Capitol Hill have power to influence issues that are core to jewelry businesses, like sales-tax fairness,” says David Bonaparte, president and chief executive officer of Jewelers of America.
Tags: JAPAC, Jewelers of America, Jewelers of America Political Action Committee, lobbying, Rapaport News, Synthetics
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