Kevin Brady: “Thank you, Mr. Chairman. You may not sense it from some of the remarks today, but, in truth, this bill has strong…”

“Thank you, Mr. Chairman. You may not sense it from some of the remarks today, but, in truth, this bill has strong bipartisan support, and I rise in support of this legislation renewing the Preference program as one valuable step Congress can take together to help spur economic and job growth here in America. As last week's jobs number--or, more importantly, zero jobs number-- showed us, our economy is struggling, and there are 14 million Americans who want a job that can't find a job. Twenty-two million Americans want a full-time job and can't find one. The lapse of this Preference program has hurt the competitiveness of our American manufacturers and others who rely upon these GSP imports as raw materials and inputs. We all know our States best. In Texas, 27 companies have asked Congress to renew this Preference program. These companies import such products as chemicals, iron and steel flanges, and ceramics for use as inputs in their manufacturing operations at home in Texas. These imports support jobs in my local communities and make our manufacturers more competitive when they compete against companies overseas. And the program benefits every State in this way, not just mine. The lapse of the program since the beginning of the year has cost these Texas companies over $21 million in unnecessary duties. That $21 million could have been used to hire more employees and invest in new equipment. Instead, it was taxed away from them.…”