Showing posts with label HOUSE COMMITTEE ON WAYS AND MEANS. Show all posts
Showing posts with label HOUSE COMMITTEE ON WAYS AND MEANS. Show all posts

Saturday, August 4, 2012

BIPARTISAN TRADE LEGISLATION PASSED IN THE U.S. HOUSE OF REPRESENTATIVES

FROM:  HOUSE COMMITTEE ON WAYS AND MEANS
CHAIRMAN DAVE CAMP

House Passes Bipartisan Legislation to Address Africa Preferences, CAFTA-DR Technical Textile Changes, and Burma Sanctions

Thursday, August 02, 2012
Washington, DC - Today, the House passed a package of bipartisan trade legislation that: (1) extends the African Growth Opportunity Act (AGOA) third-country fabric provisions through 2015 and adds South Sudan as an eligible beneficiary country under AGOA; (2) implements non-controversial technical corrections and modifications to the Dominican Republic-Central America-United States Free Trade Agreement (CAFTA-DR); and (3) renews Presidential authority to apply import sanctions against Burma.

This bipartisan legislation passed by voice vote. Additional background on H.R. 5986 is available here.

Chairman Camp said: "This important legislation will strengthen U.S. global competitiveness and trade leadership. Today’s vote to extend certain AGOA provisions and add South Sudan as an eligible beneficiary demonstrates the bipartisan dedication of this Congress to sub-Saharan Africa and reaffirms the success of the AGOA program. The technical corrections to CAFTA-DR encourage deeper integration within the region, promote U.S. exports, and support U.S. jobs. These two provisions will strengthen our ties with U.S. trading partners in Africa and the Western Hemisphere and support U.S. jobs and the U.S. economy.

"Today’s legislation also extends the President’s authority to maintain the import ban on Burmese products for three years and authorizes the actual imposition of import sanctions for one year. I recognize the encouraging developments in Burma over the past months. Nevertheless, in 2003, Congress set out specific goals and benchmarks in the Burmese Freedom and Democracy Act, and I encourage the Burmese government to continue to address the concerns that led to the passage of the law. I also urge the Burmese government to vigorously pursue further reforms, economic growth, and peaceful, inclusive governance that benefit all the Burmese people."

Trade Subcommittee Chairman Brady said: "The strong bipartisan vote on H.R. 5986 re-affirms our strong trade and investment ties with sub-Saharan Africa and ensures a better-integrated textile supply chain in the Americas. These actions will support well-paying U.S. jobs. The legislation also reauthorizes the import ban on Burmese products. While I believe the Burmese government has taken sizeable steps forward in recent months, the political and economic reforms taken must continue and intensify to ensure that all citizens of Burma may be free, have a fully democratically-elected government, and enjoy the fruits of broad-based economic growth."

Monday, July 30, 2012

CONGRESSMAN DAVE CAMP PREDICTS "TAXMAGEDDON" IF NOTHING IS DONE

FROM: HOUSE COMMITTEE ON WAYS AND MEANS: CHAIRMAN DAVE CAMP

It’s been called the "ticking tax bomb" and even "Taxmageddon" – and it’s a central issue that must be addressed in order to avoid the so-called "fiscal cliff" when the clock strikes midnight on December 31, 2012. But by whatever name it’s known, one thing is clear: if we don’t #StopTheTaxHike and prevent the expiration of the tax policies originally enacted in 2001 and 2003 – that fiscal cliff will turn into a jobs cliff. Even the non-partisan Congressional Budget Office has said the failure to act would push the country back into a recession.

No later than the last week in July, House Republicans will hold a vote not only to #StopTheTaxHike but also establish a pathway to comprehensive tax reform next year – sending a clear signal to families, employers, and the financial markets that taxes will not go up on January 1, 2013.

In light of the threat to families and our economy, prominent Democrats, such as former President Bill Clinton, former Obama economic advisor Larry Summers, and Senate Budget Committee Chairman Kent Conrad (D-ND), are joining the growing bipartisan chorus to #StopTheTaxHike. Other Democrats are joining as well. Senators McCaskill, Manchin, Webb and Nelson (FL) have refused to endorse a year-end tax increase.

In 2010, a two-year extension of the 2001 and 2003 policies won broad bipartisan support including ‘yes’ votes from 40 sitting Democratic Senators, 85 sitting Democratic House Members and President Obama. The question is: Will President Obama and the Democrats who run Washington work with House Republicans to prevent this massive, job-killing tax increase on small businesses and on every American who pays income taxes, or will they insist on higher taxes to pay for continued bailouts and wasteful Washington spending?

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