August 11,2010

Trade Bill Signed Today Said to Support 90,000 Jobs


To:       Reporters and Editors
Fr:        Jill Gerber for Sen. Grassley, 202/224-6522
Re:       Miscellaneous tariff bill signed into law
Da:       Wednesday, August 11, 2010

Sen. Chuck Grassley today made the following comment on President Obama’s signing into law of a bill that reduces and suspend tariffs on certain materials U.S. companies must import to make their products. It passed both houses of Congress with bipartisan support.  Grassley was a principal drafter of the legislation as ranking member of the Committee on Finance, with jurisdiction over international trade.  The National Association of Manufacturers says the new law will help create jobs, cut costs for businesses and consumers and boost U.S. exports. The group says studies show the bill will increase U.S. production by $4.6 billion and support 90,000 jobs.

“I commend the President for finally highlighting the importance of promoting international trade to the health of our nation’s economy.  The legislation he signed into law today was the product of a bipartisan, bicameral effort in Congress.  I thank my colleagues on the Senate Finance and House Ways and Means Committees for working with me to bring this legislation to the President’s desk.  According to the National Association of Manufacturers, this legislation supports 90,000 jobs.  That’s a good start.  We should build on that by moving to implement our pending trade agreements without delay.”