Republican Leader on the Ways and Means Committee Rep. Kevin Brady (R-TX) today delivered remarks before the Senate Conference Committee for the America COMPETES Act.
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Rep. Brady’s remarks as prepared for delivery appear below.
The litmus test for this Conference is two-fold: Will the final bill significantly counter China’s economic aggression, and does it confront China’s predatory trade practices? If not, there is no reason to advance it.
In trade, while portions of the Senate bill are bipartisan, the House version is not. I’ll do my best to find common ground and work closely with someone I respect and have a good track record of finding common ground with – Chairman Neal.
If we are serious about countering China’s economic aggression around the globe, America must begin to lead on trade – pursuing strategic trade agreements that strengthen reliable supply-chains and opens new customers for Made-in-America products and services.
Without trade agreements – and Trade Promotion Authority – there is no need for TAA.
GSP and MTB should have been extended last year with bipartisan support.
We must be cautious about extreme ideological proposals that make it harder for developing countries to qualify for GSP.
U.S. manufacturing companies and their workers should not lose out to foreign competitors due to tariffs on select parts, equipment, or materials not available in America today.
Trade remedy and investment provisions work best when they are fully and carefully vetted in both chambers of Congress. Serious concerns exist and I hope they can be addressed.
We should avoid stoking President Biden’s inflation further, harming small businesses fighting to succeed in international commerce, or distracting U.S. Customs from deterrence of illegal trade in major shipments through hasty changes in reasonable de minimis limits.
Finally, I see no need for a tax title in this Conference Report, especially one favoring a single industry.
If at all, we should confront the brazen “Made in China 2025” plan for industrial and technological dominance by unleashing all of America’s innovation and economic might across myriad industries.
I look forward to working with Chairman Wyden, Senator Crapo, Chair Cantwell, and others in this Conference Committee.