For Immediate Release
March 21, 2013

Hatch Trade Amendments to Senate Democrats’ Budget for Fiscal Year (FY) 2014

MEMORANDUM

TO:      Reporters and Editors
FROM:  Antonia Ferrier &Julia Lawless for Senate Finance Committee Ranking Member Orrin
           Hatch (R-Utah)  
RE:       Hatch Trade Amendments to Senate Democrats’ Budget for Fiscal Year (FY) 2014  
DATE:  Thursday, March 21, 2013
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As the Senate begins to debate Democrats first budget blueprint in nearly four years, Senate Finance Committee Ranking Member Orrin Hatch (R-Utah) today filed the following trade related amendments to S.Con.Res. 8, the Senate Budget Resolution for FY 2014:

TRADE RELATED AMENDMENTS:

  1. This amendment would provide for the implementation of the Trans-Pacific Partnership (TPP) Agreement, an European Union-U.S. trade agreement, and other free trade agreements, under Trade Promotion Authority procedures:This amendment promotes U.S. exports by modifying the deficit-neutral reserve fund relating to trade and international agreements to allow for legislation that would not increase deficits but would implement the TPP, an E.U.-U.S. trade agreement, or any other free trade agreement, as long as they were implemented under Trade Promotion Authority (TPA) procedures.
  2. Creation of office of Chief IPR negotiator at USTR:This amendment promotes U.S. competitiveness and the protection of intellectual property rights by modifying the deficit-neutral reserve fund relating to trade and international agreements to allow for the establishment  of the position of Chief Innovation and Intellectual Property Negotiator in the Office of the United States Trade Representative, to have the rank of Ambassador Extraordinary and Plenipotentiary and be appointed by the President by and with the advice and consent of the Senate.
  3. International Trade Agency Reorganization:  This amendment creates a deficit-neutral reserve fund that would not increase deficits but allow for international trade agency reorganization, except for those international trade agencies that currently reside within the Executive Office of the President, such as the Office of the United States Trade Representative.


ADDITIONAL BACKGROUND:

  • Deficit Neutral Reserve Fund (DNRF): Permits the Budget Chairman to adjust the committee spending allocations to account for future legislation that may be considered in the Senate.  If legislation comes to the floor that satisfies the description in the DNRF (as determined by the Budget Chairman), the Budget Chairman may change spending allocations to prevent the legislation from triggering a budget point of order.

 

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