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NFTC Applauds Senate Vote on GSP, TAA, Urges Senators to Approve Bill Without Amendments
Date: 9/19/2011

Calls Tonight's Vote Critical to Floor Votes on FTA, TAA, Preference Programs in Coming Weeks


Washington DC
– The National Foreign Trade Council (NFTC) tonight applauded the U.S. Senate for a favorable vote on the motion to invoke cloture on legislation to retroactively renew the Generalized System of Preferences (GSP) and the Trade Adjustment Assistance (TAA) program. Though the Senate is scheduled to begin voting on amendments to the bill tomorrow afternoon, the NFTC called on Senators to pass the bill without amendments, as agreed to in the bipartisan compromise, to ensure the swift passage of the pending free trade agreements (FTAs), TAA, GSP and the Andean trade preferences.

The NFTC released the following statement:

"We welcome news that the Senate has taken the first procedural step in considering the renewal of GSP and TAA before the upcoming recess. Both programs are important to U.S. competitiveness and U.S. economic growth, as GSP affords our manufacturers access to low-cost inputs and TAA provides U.S. workers impacted by trade with the benefits and training they need to get back on their feet and back to work. We applaud Senators Reid and McConnell for working together to ensure that both programs will be renewed soon.

"Tonight's vote not only signals movement of these two programs, but also the broader trade agenda, which has been waiting in the wings for action for far too long. With this vote and subsequent votes in the Senate this week, we will be one step closer to passage of the long-stalled trade agreements with Colombia, Korea and Panama. While we expect that amendments will be offered on the GSP/TAA legislation, we call on the Senate to pass the bill as soon as possible without amendments to ensure that the FTAs, TAA and preference programs are approved or renewed without further delay.

"The next few weeks will be critical on the trade front, and it is good to see that the ball is finally rolling. The NFTC strongly urges Congress and the Administration to stay on course and continue working together in a bipartisan manner to renew faith with American workers and our trading partners around the globe."

 
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About NFTC
Advancing Global Commerce for Nearly A Century- 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.
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