July 25,2008

Baucus Comments on Markup on Trade Adjustment Assistance Legislation

MEMORANDUM

To: Reporters and Editors
From: Carol Guthrie for Senate Finance Committee Chairman Max Baucus (D-Mont.)
Re: postponement of markup on Trade Adjustment Assistance legislation

Finance Chairman Baucus announced today that Committee consideration of legislation renewing
and expanding the Trade Adjustment Assistance program will not take place before the August
recess. Baucus, who first introduced the Trade and Globalization Adjustment Assistance Act in
2007, says that he remains committed to advancing Trade Adjustment Assistance and additional
elements of a strong American trade agenda. He issued the following statement today:

“I have worked for some time with my Finance Committee partner, Senator Chuck Grassley, and with the White House to develop a robust renewal and expansion of America’s Trade Adjustment Assistance program, and today we are on the cusp of an excellent agreement for America’s workers – one that offers the protection of TAA to more than 100 million employees in the services sector, doubles funding for training opportunities, and promotes secure, good-paying jobs here at home. I had hoped to finalize offsets for the bill and bring it to the Finance Committee for formal consideration next week. However, the resistance of some Senators to consideration of TAA absent a guarantee of action on the Colombia Free Trade Agreement is preventing the process from moving forward. I have said all year that TAA is my number-one trade priority, and that TAA must be renewed and expanded for the sake of America’s workers before Congress acts on further free trade pacts. The American people will only truly endorse a broad trade agenda for the United States when the legitimate concerns of America’s working families about trade have been addressed, which this TAA bill would go a long way to do.

“I believe that the Colombia FTA should be considered, and should pass, but on its own merits and in its own time. I do not believe that the Colombia FTA can pass Congress unless our duty on TAA is done. I will keep encouraging my colleagues to advance Trade Adjustment Assistance, and then to consider appropriate next steps for a strong American trade agenda.”

###