Optimism grows Russia trade bill will pass before August recess

The Hill

Optimism is rising among lawmakers and trade advocates that Congress can pass a Russian trade bill before the August recess.

The bill to normalize trade relations with Moscow, which appeared hopelessly stalled before a Senate Finance Committee markup, found new life after winning unanimous support among panel members following an agreement crafted by Chairman Max Baucus (D-Mont.) and top Republican Orrin Hatch of Utah.

While actions last week — moving the joint trade and human rights bill through Senate Finance and locking in a bipartisan deal in the House — provide greater hope that Congress can get a bill to President Obama’s desk before Russia joins the World Trade Organization next month, lawmakers are running short on time.

“I remain confident this will get done by the August recess,” Christopher Wenk, head of international policy at the U.S. Chamber of Commerce told The Hill on Friday.
“The Chamber won’t let Congress leave town without getting it done.”

The broad support in the Senate Finance Committee for a bill that combines the repeal of the 37-year-old Jackson-Vanik provision to grant permanent normal trade relations (PNTR) with a measure that punishes Russian officials involved in the death of whistleblower lawyer Sergei Magnitsky seemed to simultaneously surprise trade watchers and pave the way for a final resolution.

Although the chances for the bill to clear Congress are looking up, and the measure represents a bright spot amid the legislative logjam in Congress, there are no guarantees, supporters caution.

“Based on what I’ve been hearing, I wouldn’t say that they’re [lawmakers] confident about getting it done before the August recess,” said Ed Gerwin, a senior fellow for trade and global economic policy at Third Way.

While progress was made this week, there also are “a lot of moving pieces that would still have to break the right way” for the bill to move in time, Gerwin said.

Baucus said he was “hopeful” the bill could be done before the summer break and that was before House Ways and Means lawmakers jointly introduced legislation on Thursday mirroring the Senate’s repeal of the Jackson-Vanik provision.

The panel doesn’t have jurisdiction over the human rights legislation and will most likely attach the Magnitsky bill in the House Rules Committee.

The House will have to move the bill first because the repeal of Jackson-Vanik includes revenue raisers such as tariffs, aides said.

House passage of merged legislation will require quick action in the Senate and must get a commitment from Senate Majority Leader Harry Reid (D-Nev.) for a vote. He would only say this week that he is looking very closely at the bill.

For the past several weeks, business groups such as the U.S. Chamber and Business Roundtable have ramped up their efforts to move the bill before Russia ends its 18-year quest to join the WTO.

“Clearly there is tremendous opportunity to increase U.S. exports to Russia, which in turn, will boost the U.S. economy and drive job growth,” said Doug Oberhelman, chairman and chief executive of Caterpillar, and chairman of BRT’s International Engagement Committee.

“Without PNTR, all 155 WTO members — except the United States — will be eligible to receive the full benefits of Russia’s market-opening concessions,” Oberhelman said.

Annual U.S. exports to Russia total about $9 billion per year, and are expected double within five years if Congress normalizes trade relations.

“Unlike a free trade agreement, the United States will not provide any market access benefits, lower any U.S. tariffs, or make other changes to its trade laws as a result of Russia’s WTO accession,” Baucus said.

U.S. Trade Representative Ron Kirk said he is looking “forward to working with Congress to put a final bill on the president’s desk as soon as possible.”

The White House, along with Camp and other House Republicans, had pushed for a clean PNTR bill, but the momentum has been shifting toward including a human-rights component. микрозаймы онлайн unshaven girl female wrestling zp-pdl.com https://zp-pdl.com/get-a-next-business-day-payday-loan.php hairy girls