Max Baucus: “I am extremely pleased about these provisions. They represent, first, a true bipartisan compromise, the result of months…”

“I am extremely pleased about these provisions. They represent, first, a true bipartisan compromise, the result of months of negotiations, and, I might add, lots of concessions on both sides. After all that effort, I believe we have reached an agreement that will provide real, genuine help to families affected by new trade policies. I commend Senator Grassley from Iowa. Many people spend a lot of time talking about bipartisanship in this town, but Senator Grassley does more than just talk. He is bipartisan. His efforts on this issue and others were crucial to getting a workable bipartisan compromise. The proposal provides a 70 percent tax credit for health insurance premiums to workers who participate in trade adjustment assistance, known as the TAA program. This tax credit is advanceable and it is refundable. That means workers displaced by trade will not have to pay the full cost of their health insurance and then wait to be reimbursed when they file their tax returns the next year.”