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Committee on Ways and Means For Immediate Release Thomas Applauds Senate Passage of Trade Bill Next Stop the White House WASHINGTON - Today the Senate voted in support of the conference report on H.R. 3009, the Trade Act of 2002. The Senate vote was the last hurdle to clear before sending the comprehensive trade legislation to the White House for President Bush’s signature. “The House and the Senate came together to create a bipartisan trade agreement that places the United States back in the global trade market,” said Ways and Means Chairman Bill Thomas (R-CA). “I applaud the Senate for working in a bipartisan manner to focus on an approach that will help create and secure American jobs.” H.R. 3009 grants the president the power to negotiate international trade agreements in consultation with Congress while allowing Congressional approval or rejection without amendments. Without this authority, America’s presidents are limited in their ability to negotiate trade agreements that would further open global markets to U.S. products, services and agricultural commodities. The bill extends temporary help to those who, through no fault of their own, have lost their jobs through a trade-related circumstance. It offers a 65 percent refundable tax credit to provide laid-off workers access to affordable health insurance. In an effort to build mutually beneficial partnerships, the legislation includes benefits to assist Andean, Caribbean and African regions by expanding existing trade relationships and renewing the Generalized System of Preferences. “Next stop the White House,” said Thomas. “It’s been far too long since the president had the authority to negotiate trade agreements. This is a significant victory for American workers and businesses.” For more information on H.R. 3009, the Trade Act of 2002, please click here.
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