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NFTC Commends Senate Amendment on Trade Adjustment Assistance Program
Date: 2/5/2009

Council Calls Agreement a Good Sign of Progress

Washington, DC – The National Foreign Trade Council (NFTC) today lauded Members of the U.S. Senate Finance Committee and the U.S. House Committee on Ways and Means for their movement on improving and expanding the Trade Adjustment Assistance (TAA) program in the American Recovery and Reinvestment Act of 2009. NFTC believes the Baucus-Grassley amendment modernizing the Trade Adjustment Assistance (TAA) program to assist American workers is vital to America’s continued competitiveness and economic recovery.

“NFTC welcomes today's amendment as a positive step in promoting growth and jobs through trade,” said NFTC President Bill Reinsch. “Today’s action signals progress toward a national trade policy that promotes trade liberalization while addressing the concerns of American workers who worry about losing their jobs.”

Finance Chairman Max Baucus (D-MT), Ways and Means Chairman Charlie Rangel (D-NY), Finance Ranking Member Chuck Grassley (R-IA) and Ways and Means Ranking Member Dave Camp (R-MI) said they will seek to amend the economic recovery bill to help companies and workers impacted by global expansion of the American economy. The amendment, the Trade and Globalization Adjustment Act of 2009, will authorize Trade Adjustment Assistance through 2010 and redesign benefits to be more flexible and accessible.

“This amendment has been carefully crafted to target assistance in a cost effective manner where it is needed most, empowering American workers with the tools and training they need to succeed in the global economy,” said Chuck Dittrich, NFTC Vice President of Regional Trade Initiatives. “This amendment represents the input of Republicans and Democrats in both the House and the Senate to find common ground. We strongly support this milestone in moving back to a bipartisan consensus on trade and competitiveness and urge the full Congress to adopt the measure.”

In 2008 the NFTC and other leading U.S. business community organizations launched a new coalition – the Trade and American Competitiveness Coalition (TAA Competitiveness). The coalition focuses its efforts on urging Congress to act on legislation to enhance and expand the TAA program as well as advocating for various legislative measures that will ensure American workers are well-equipped to compete in the integrated 21st century global economy.

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Advancing Global Commerce for Over 90 Years
The National Foreign Trade Council (www.nftc.org) is a leading business organization advocating an open, rules-based global trading system. Founded in 1914 by a broad-based group of American companies, the NFTC now serves hundreds of member companies through its offices in Washington and New York.