WASHINGTON, D.C. - The House of Representatives will consider H.R. 6517, the Omnibus Trade Act of 2010, as amended, tomorrow. Ways and Means Committee Chairman Sander M. Levin (D-MI) introduced this important legislation to extend expiring trade provisions, and to support American manufacturing on Dec. 13, 2010.
“This bill highlights efforts to expand and shape trade," said Ways and Means Committee Chairman Sander M. Levin (D-MI). “The bill includes key provisions to promote the competitiveness of U.S. manufacturing and the U.S. workforce in a globalized economy, by reducing import duties on over 290 products used by U.S. manufacturers. Very critically, the bill extends the successful Trade Adjustment Assistance reforms which provide vital assistance to workers who have been adversely affected by trade, and ensures that we are giving them the tools they need to succeed in a globally competitive economy. The improved TAA program has helped 227,882 workers in 2010 alone, and it must continue. The bill also extends two important expiring trade preference programs (GSP and the Andean program) structured to ensure complementary trade between the United States and developing countries."
The Omnibus Trade Act of 2010, as amended for consideration on suspension:
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Temporarily suspends or reduces import duties on over 290 products, mostly on inputs or components, reducing the cost of manufacturing here in the United States (this is a second grouping of “miscellaneous tariff bills" - the first was signed into law in August after passing the House by a vote of 378-43);
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Extends Trade Adjustment Assistance (TAA) programs that were overhauled in 2009 for 18 months, providing support and training to trade-affected workers. Since the reforms were implemented in May 2009, more than 155,000 additional trade-impacted workers who may not have been certified under the former TAA program became eligible for TAA for Workers benefits and training opportunities. In total, more than 367,000 workers were certified as eligible for TAA support in that timeframe. In FY2010 alone, 227,882 workers took advantage of TAA and participated in the program, receiving case management, training and/or income support;
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Extends tariff preference programs for developing countries (i.e., the Generalized System of Preferences (GSP) and the Andean Trade Preferences Act (ATPA)) for 18 months; and
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Ensures funding for a program in place since 2000 that assists U.S. wool suit makers and their workers (the wool trust fund).
