On the recordOctober 11, 2011
I yield myself such time as I may consume. Mr. Speaker, I rise today in support of H.R. 2832, the bill which renews the Generalized System of Preferences program and also contains the Trade Adjustment Extension Act of 2011. This bill is the cornerstone of a carefully crafted bipartisan, bicameral agreement that prompted the President to send the three trade agreements to Congress last Monday and, in turn, has allowed us to move forward on the long-stalled trade agenda. The bill renews the bipartisan GSP, the largest U.S. trade preference program, which was already passed by the House last month. Not only does this legislation allow duty-free access for specific products from certain developing countries into the U.S. market; it makes U.S. manufacturing more competitive by lowering the cost of inputs. The Coalition for GSP has estimated that over 82,000 U.S. jobs are directly or indirectly associated with this program. This legislation renews the program through July 31, 2013, and applies it retroactively for eligible products imported after the program's expiration date on December 31, 2010. This program is fully offset with spending cuts. This bill also contains a reauthorization of Trade Adjustment Assistance, better known as TAA. Earlier this summer, the White House sprung upon us that it would not send the three free trade agreements to Congress if there was no ``deal'' on TAA.…
