S.3292 - Temporary Duty Suspension Process Act of 2012112th Congress (2011-2012)
|Sponsor:||Sen. McCaskill, Claire [D-MO] (Introduced 06/13/2012)|
|Committees:||Senate - Finance|
|Latest Action:||06/13/2012 Read twice and referred to the Committee on Finance.|
This bill has the status Introduced
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Subject — Policy Area:
- Foreign Trade and International Finance
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Summary: S.3292 — 112th Congress (2011-2012)All Bill Information (Except Text)
Introduced in Senate (06/13/2012)
Temporary Duty Suspension Process Act of 2012 - Directs the U.S. International Trade Commission (USITC) to establish a process in which it will: (1) review each article in which a temporary duty suspension or reduction has been recommended at its own initiative or pusuant to a petition, and (2) submit a draft bill to the appropriate congressional committees containing each duty suspension or reduction that meets certain requirements.
Requires the USITC to report to appropriate congressional committees on: (1) recommendations with respect to sectors of the U.S. economy that could benefit from duty suspensions or reductions without causing harm to other domestic interests, and (2) the feasibility of suspending or reducing duties on a sectoral basis rather than on individual articles.