Trade Promotion authority
Major Provisions of the Bill This bill gives the president authority to negotiate trade contracts and make certain reductions in tariffs and other trade barriers. ... In a concession by the Republicans to the demands of the Democrats, HR3009 contains provisions to deal with the job loss that will likely be created by the presidents trade agreements. The Trade Adjustment Assistance program will provide workers who lose their jobs with benefits including wage insurance for people over 50 that will have to suffer a pay cut, worker training, job search allowances, and health insurance tax credits for those workers who lose coverage. ... In negotiating these trade contacts the president is to follow an overarching set of objectives and priorities. ... The negotiations should seek to reduce trade barriers, end or address unfair trade practices that harm U. ... The bill also authorizes money to be given to for technical assistance in sub-Saharan Africa to help prevent the illegal trade of textiles. Additional funds are set aside to help reestablish a center for customs operations to replace what was lost in the World Trade Center attack. ... Within these provisions, the 1991 Andean Trade Preferences Act is reauthorized allowing many products from Andean countries to be sold in the U. ... They believe that free trade will increase both the number and the quality of jobs. ... Others were concerned for the loss of jobs that usually accompany trade agreements of this type. ... Actions by Committee in Both Houses House Ways and Means -Stipulated congress would not have amending power to proposed trade agreements, only the power to agree or disagree within a 90 day period.