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Trade Act of 2002 H.R. 3009, Public Law 107-210 August 6, 2002

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.

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Trade Act of 2002 H.R. 3009, Public Law 107-210 August 6, 2002

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  1. Trade Act of 2002H.R. 3009,Public Law 107-210August 6, 2002 Including TAA, a Small, Complex “New” Program

  2. Major Elements • Trade Adjustment Assistance Amendments • Trade Promotion “Fast Track” Authority • Andean Trade Preferences • Other Trade Preferences and Provisions

  3. 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

  4. 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)

  5. 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

  6. 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

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