House Foreign Affairs Committee Approves Export Promotion Act
On March 7, 2012, the House Foreign Affairs Committee approved H.R. 4041, the Export Promotion Reform Act, in order to further enhance the promotion of U.S. exports of goods and services by revising the duties of the Trade Promotion Coordinating Committee (TPCC) to include a review of agency budgets in support of its strategic plan for trade promotion, etc. The measure would also require the President to give the TPCC chair additional authorities to ensure that the committee's duties and its strategic plan are implemented.
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In addition, the bill would require that U.S. Commercial Service personnel and other resources be redeployed on the basis of a global assessment that would be required to be conducted every five years, among other changes.1
Text of the measure is available from the Committee here.
1The bill would also require TPCC and the Commercial Service to take into account recommendations from a representative number of U.S. exporters, in particular small and medium-sized businesses and representatives of U.S. workers, when developing the TPCC strategic plan and carrying out the Commercial Service's review of resource deployment, respectively.