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Senate Finance Chair Discusses TAA Program
TweetFebruary 4, 2008
Senate Finance Committee Chairman Max Baucus (D-MT) recently announced that he will not consider any trade bills, including pending free trade agreements, until a Trade Adjustment Assistance (TAA) program is passed. He is expected to mark up a TAA bill within the coming weeks.
Baucus’ pending bill (S. 1848) identifies four key elements that are “indispensable” to a strong TAA bill. TAA which now covers mostly workers in manufacturing jobs would be expanded to cover service jobs. Workers would also be provided benefits if their firms moved production offshore to countries that do not have a free trade agreement (FTA) with the
Baucus’ version would also expand health care tax credits to pay for 85 percent of insurance premiums, from the current 65 percent. The bill would also double the money available for training funding, which is currently $220 million.
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The Bush Administration has made the U.S.-Colombia Free Trade Agreement a top priority for 2008. Until a TAA bill is passed, this legislation is likely to be held up. U.S. Trade Representative Susan Schwab announced on January 29, 2008 that she is planning on meeting with chairmen and ranking members of both the