OFFICIALS LEGISLATION INTEREST GROUPS PUBLIC STATEMENTS COMMITTEES VETOES

IRS Bureaucracy Reduction and Judicial Review Act

Floor Speech

Date: June 11, 2015
Location: Washington, DC
Issues: Trade

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Mr. SMITH of Nebraska. I thank the Chairman for yielding and for working to bring these issues to the floor.

This bill includes a number of critical reauthorizations, including AGOA, the Generalized System of Preferences, and trade with Haiti. It is an important first step as we address trade today and tomorrow.

I also want to thank the chairman for working with me and a number of other Members to ensure the inclusion of provisions in this bill to modernize the treatment of travel goods, performance outerwear, and footwear.

The GSP UPDATE Act, included in this bill, would allow the International Trade Commission to consider whether travel goods such as suitcases and backpacks are import sensitive. If, and only if, the ITC determines they are not, they would become eligible for duty-free treatment under the Generalized System of Preferences.

Such a determination would be constructive for us, as well as our trade partners. This would mean increasing stability and economic growth in the developing world. It would also mean greater opportunities for retailers and consumers here in our country as we expand the availability of products.

Again, I thank the chairman for this provision's inclusion, and I urge passage.

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