Summary: S.2357 — 109th Congress (2005-2006)All Information (Except Text)

There is one summary for S.2357. Bill summaries are authored by CRS.

Shown Here:
Introduced in Senate (03/02/2006)

Right Time to Reinvest in America's Competitiveness and Knowledge Act or Right TRACK Act - Amends specified federal laws to establish: (1) the Presidential Research and Development Advisory Committee to advise the President on the allocation of federal resources in education and technology development; and (2) an interagency working group to develop collaborative research in biomedical, science, engineering, and technology research.

Makes permanent the extension of a research and development (R&D) tax credit.

Authorizes appropriations for FY2007-FY2013 to increase funding of R&D activities of certain federal agencies.

Allows a tax credit for the purchase of nanotechnology developer stocks.

Establishes a national broadband policy for improving and expanding broadband access in the United States by 2010.

Sets forth reauthorizations for Amtrak.

America's Better Classroom Act of 2005 - Allows a tax credit to holders of qualified public school modernization bonds.

New National Defense Education Act - Requires a biennial national assessment of student achievement and grade 12 student preparedness in reading, mathematics, and science.

Authorizes prekindergarten through grade 16 student preparedness council grants to states to ensure a state's academic content and student academic achievement standards and assessments meet certain benchmarks.

Makes competitive grants to institutions of higher education to improve the recruitment of teachers from students majoring in mathematics, science, engineering, technology, or a critical-need foreign language.

Requires an eligible state to provide contract for educational opportunity (CEO) grants to low-income students who complete CEO requirements and enroll in a two-or four-year degree-granting institution of higher education.

Provides for grants to: (1) improve mathematics, science, and engineering and technology education infrastructure in public elementary schools and secondary schools and to provide scholarships to make higher education tuition free for low-income and middle-income undergraduate and graduate students to earn degrees in science, technology, engineering, mathematics, and critical-need foreign languages; and (2) develop programs that expose public elementary and secondary school, undergraduate, and graduate students to foreign languages and cultures.

Requires an employer to give 90-day notice before ordering the offshoring of jobs.

Defines as foreign base company income and taxable as subpart F income any imported property income derived by a foreign corporation in a taxable year.

United States Workers Protection Act of 2006 - Prohibits: (1) outsourced federal government work or a contract for the procurement of goods or services from being performed outside the United States unless certain requirements are met; and (2) the disbursement of federal funds to a state if any of the funds will be spent for goods or services performed outside the United States.

Limits the application of certain trade authorities procedures implementing bilateral or regional trade agreements unless such agreements prohibit forced and compulsory labor and child labor.

Imposes an additional duty on any article from a country that manipulates the rate of exchange between its currency and the U.S. dollar unless the President certifies to Congress that such country is no longer manipulating the rate to gain an unfair competitive advantage in international trade.

Global Worker Fairness Act - Establishes a wage insurance program for workers displaced due to unfair trade competition.

Trade Adjustment Assistance Equity for Service Workers Act of 2006 - Extends trade adjustment assistance (TAA) to workers in a service sector firm or a public agency. Authorizes the payment of amounts for training of adversely affected workers due to unfair trade competition through FY2012.

Workers Equity Act - Permits TAA where an employer has shifted production of like articles to a foreign country that has been extended permanent normal trade relations by the United States.

Establishes an Office of Community Trade Adjustment in the Department of Commerce to coordinate the federal response to economic dislocation.

Employee Free Choice Act - Certifies a bargaining representative without directing an election if a majority of the bargaining unit employees have authorized designation of the representative and there is no other currently certified or recognized exclusive employee representative.

Fair Minimum Wage Act of 2006 - Sets forth graduated increases of the federal minimum wage up to $7.25 an hour.