Items Tagged with 'America COMPETES Act'

President Joe Biden will release his fiscal 2023 budget on Monday, just six months before the new budget year begins, while Senate leaders search for a way to move a bill aimed at relieving port bottlenecks.

The House of Representatives Friday narrowly approved the America COMPETES Act, pushing the legislation that is supposed to make the U.S. more competitive with China closer to enactment. While similar to the Senate version passed last summer, the House bill – passed with a 222-210 vote – includes significant differences such as the inclusion of the Ocean Shipping Reform Act as well as reauthorizes and alters the Trade Adjustment Assistance and Generalized System of Preferences programs.

The House is wrapping up debate today on a sweeping, Democratic bill aimed at increasing U.S. competitiveness with China and other developing countries.