Industry News

House Introduces Second Miscellaneous Tariff Bill

12/14/2010


On December 13, 2010 the House Ways and Means Committee Chairman Sander Levin introduced the Omnibus Trade Act of 2010 (H.R. 6517), a bill to extend trade adjustment assistance and certain trade preference programs, and to amend the United States Harmonized Tariff Schedule (HTS) to temporarily modify certain rates of duty. The bill proposes a year and a half extension of trade adjustment assistance and of the Generalized System of Preferences (GSP) and the Andean Trade Preferences Act/Andean Trade Promotion and Drug Eradication Act (ATPA/ATPDEA) programs. The provision for an extension includes some, but not all of previous ATPA/ATPDEA beneficiaries. The bill also includes hundreds of duty suspension and reduction provisions.

Our sources indicate that the House will consider the bill tomorrow. If the bill passes the House, it would still need to pass the Senate and be signed by the President in order to go into effect.

For more information on the Omnibus Trade Act of 2010, continue to visit www.barnesrichardson.com or contact a Barnes/Richardson attorney. For background information on the second MTB, see House Ways and Means Committee Posts Discussion Draft of Potential Second MTB