News of Note
Export Promotion Bill Passes In The House Of Representatives
On May 30, 2012, the House of Representatives passed a new export promotion bill (H.R. 4041) to revise the Export Enhancement Act of 1988. The new bill would expand the authority of the Trade Promotion Coordinating Committee (“TPCC”), an interagency task force that develops U.S. trade promotion policies and facilitates coordination among government agencies. Under the new bill, the TPCC would have the authority to review the budgets of agencies with export promotion programs. The bill would also require the Secretary of Commerce to conduct a “global assessment of overseas markets to determine those with the greatest potential for increasing US exports” at least once every five years. Finally, the bill would require the TPCC to take into account recommendations made by U.S. exporters and their U.S. employees, with a focus on small and medium-sized businesses, when drafting a government-wide plan for trade promotion efforts. The bill has been referred to the Senate Banking, Housing and Urban Affairs Committee.