 |
|
|
SUBCOMMITTEES: Privacy, Copyright, and Permission to Link Statement |
Committee on Ways and Means For Immediate Release Thomas Hails House Passage of Trade Package; Encourages Senate to Act this Week WASHINGTON - Last week the House of Representatives voted in support of the conference report on H.R. 3009, the Trade Act of 2002. The Senate vote, which is expected this week, is the last hurdle to clear before sending the trade bill to the White House for President Bush’s signature. “The United States has fallen behind in world trade, and we need to get back in the game,” said Ways and Means Chairman Bill Thomas (R-CA). “The House has done its part. We need the Senate to act this week to finish the job.” 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. When this authority was not renewed in 1994, despite the efforts of Chairman Thomas and others, President Clinton was limited in his ability to negotiate trade agreements that would further open global markets to U.S. products, services and agricultural commodities. “Trade means change. In almost every aspect of that change, it's positive: better jobs, higher income, better prices for American consumers. But change may also mean dislocation,” Thomas said. “Our bill provides a safety net for dislocated workers through temporary stipends, job retraining and assistance with their health care costs.” 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. The legislation also includes benefits to assist Andean, Caribbean and African regions by expanding existing trade relationships, and it renews the Generalized System of Preferences. For more information on H.R. 3009, the Trade Act of 2002, please click here.
|