trade act of 2002 h.r. 3009, public law 107-210 august 6, 2002
DESCRIPTION
Trade Act of 2002 H.R. 3009, Public Law 107-210 August 6, 2002. Including TAA, a Small, Complex “New” Program. Major Elements. Trade Adjustment Assistance Amendments Trade Promotion “Fast Track” Authority Andean Trade Preferences Other Trade Preferences and Provisions. - PowerPoint PPT PresentationTRANSCRIPT
Trade Act of 2002H.R. 3009, Public Law 107-210
August 6, 2002
Including TAA, a Small, Complex “New” Program
Major Elements
Trade Adjustment Assistance Amendments Trade Promotion “Fast Track” Authority Andean Trade Preferences Other Trade Preferences and Provisions
Trade Adjustment Assistance
Reauthorize from Oct. 2001 to Sept. 2007 Consolidate TAA and NAFTA-TAA Expand eligibility “upstream” &
“downstream” Double funds to $220 million for training Extend cash benefits to 78 weeks, plus 26
more if needed to finish training
New Programs for TAA-Eligibles
Refundable tax credit for health insurance premiums paid
> Operated by U.S. Treasury> Eligibility, benefits determined monthly
Wage subsidies for older workers on TRA> Pays half of wage difference for over 50> Paid from state TAA allowances fund (see § 124)
TAA Alignment Provisions
Allow employer-based training like OJT Give states 2 additional years to spend funds Deliver TAA benefits and information thru
one-stop centers File petitions with governor, USDOL at the
same time Raise ceiling on job search, relocation
allowances 50 percent
Other TAA & WIA Provisions
Extend TAA for firms until October 2007 New TAA for farmers and ranchers in groups of
“commodity producers” (USDA) Allow USDOL to fund NEG projects that –
> Help TAA eligibles get health care coverage
> Provide transportation, child care, other support to TAA participants in training
> See § 203 of the legislation Effective date November 5, 2002 – Election Day