Export Promotion Reform Act

Floor Speech

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Ms. RICHARDSON. Mr. Speaker, I rise in support of H.R. 4041, the Export Promotion Reform Act, which will revise the duties of the Trade Promotion Coordinating Committee (TPCC) to improve the research conducted for export promotion efforts. If enacted, this bill will increase the effectiveness of the steps that are taken by the TPCC to boost international trade. I support the bill because expanding America's share of the export market is critical if we are to compete and win in the global economy of the 21st century and provide jobs that will sustain a middle-class standard of living for our people.

Mr. Speaker, this bill will require the government to take into account the recommendations of small- and medium-sized businesses when developing federal trade promotion efforts. This requirement will enable policymakers to better understand the environment in which they are attempting to promote trade.

A more focused understanding of the current economic environment can help the government create more effective export expansion initiatives. By creating targeted initiatives, the Federal Government can help the U.S. economy by expanding economic opportunity for local business to increase foreign sales, thereby creating more good-paying jobs, and economic growth.

This bill also requires the Secretary of Commerce to conduct global assessments of overseas markets to determine which markets have the greatest export potential, and deploy resources accordingly. This will assist U.S. businesses in identifying profitable market opportunities abroad, making it easier for them to begin exporting goods and services. Additionally, the deployed personnel and other resources will help to limit barriers to entry of foreign markets by U.S. businesses.

I support this bill also because of the strong positive impact that an increase in exports will have on the constituents of the 37th Congressional District of California, which I am privileged to represent. The Ports of Los Angeles and Long Beach are major economic engines in the Southern California economy, currently providing nearly $14.5 billion a year in trade-related wages, and more than $47 billion in direct and indirect business sales.

An increase in international exports will boost these figures and create jobs. Additionally, an increase in exports will, provide more opportunities for local businesses to thrive by expanding into foreign markets.

For these reasons, I urge my colleagues to join me in support of H.R. 4041.

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