Senate Deal Announced on Passing GSP/MPF Bill Soon, Ultimate Fate Tied to FTAs Passage, Etc.
Press reports indicate that Senate Majority Leader Reid (D-NV) has announced a deal for a time line on amending and passing H.R. 2832 to reinstate the GSP program retroactive to its expiration date and raise the Merchandise Processing Fee.
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The plan would be for the Senate to amend the House-passed measure to include a Trade Adjustment Assistance (TAA) provision, pass it, and then send H.R. 2832 as amended back to the House for approval. The House would then wait to adopt an enrollment rule (a prerequisite for the Presidential signature of H.R. 2832) until it passes the implementing legislation for the pending Korea (KORUS), Colombia and Panama Free Trade Agreements. Once passed by the House, this FTA legislation would go to the Senate for its expected passage there, and H.R. 2832 would go to the President for signature into law.
Senate May Act Soon on HR 2832, then Take Up China Currency and Trade Bill
Reid noted that H.R. 2832 could be passed as soon as the week that began on September 12, and that the Senate may take up new legislation that addresses China’s currency and trade practices while waiting for the House to pass FTA legislation.
Andean Extension Considered a Possibility by Some
Note that one quoted trade source thought that it might be possible that renewal of the Andean Trade Preference Act (ATPA)/Andean Trade Promotion and Drug Eradication Act (ATPDEA) could occur when the FTA legislation passes, as such renewal was in a draft version of the Colombia FTA implementing bills.
(See ITT’s Online Archives or 09/09/11 news, 11090910, for BP summary on the GSP Special Program Indicator (SPI) for ABI summaries as an acceptable request for a GSP refund.
See ITT’s Online Archives or 09/08/11 news, 11090818, for BP summary of House passing H.R. 2832.
See ITT’s Online Archives or 07/31/11 news, 11071320, for BP summary of draft KORUS bills, that included renewal of GSP and ATPA/ATPDEA, an increase to the MPF, etc.)