On May 17, 2011, a bipartisan group of 28 Senators urged President Obama to preserve the highest standards of protection for intellectual property rights as the Administration finalizes its Trans-Pacific Partnership (TPP) proposals in this area and during the course of the negotiations. The Senators also urge the President to reject efforts by other TPP participants to seek a weakening of IPR standards as compared with high-standard agreements such as the U.S.-Korea Free Trade Agreement (KORUS). The U.S. Chamber of Commerce's press release applauding this letter is available here.
At a May 12, 2011 hearing, various witnesses from the private sector, the Congressional Research Service, academia, and a law firm testified at a House Ways and Means Committee hearing on whether the current structure of the tax rules reduces U.S. employment and hampers efforts of U.S. companies to compete in global markets. The hearing also addressed whether comprehensive tax reform might create economic and job benefits.
The following are the trade-related hearings scheduled for May 16-21, 2011:
The following hearings, markups, or meetings are scheduled for May 17, 2011:
The President announced his cybersecurity legislative proposal on May 12, 2011. This proposal was developed in response to a request from Senate leaders for the Administration's input on cybersecurity legislation. The Administration responded by developing a cybersecurity legislative proposal for Congress which includes penalties for computer criminals, protections for critical infrastructure, protection for federal government computers and networks, etc.
On May 16, 2011, the Senate received the nomination of Terry D. Garcia to be Deputy Secretary of Commerce. Terry D. Garcia is currently Executive Vice President for Mission Programs at the National Geographic Society.
On May 12, 2011, Senate Judiciary Committee leaders Leahy (D), Grassley (R), and Hatch (R)1 introduced S. 968, the Preventing Real Online Threats to Economic Creativity and Theft of Intellectual Property (PROTECT IP) Act of 2011, a bipartisan effort to strengthen protections against the illegal online sale of counterfeit goods.
During a May 16, 2011 conference call, the U.S. Trade Representative and other Administration officials stated that the Administration would not submit the implementing legislation packages for the pending free trade agreements with Korea, Colombia, and Panama until it has an agreement with Congress to renew Trade Adjustment Assistance (TAA) that is consistent with the objectives of the expanded 2009 version1.
At a May 11, 2011 Senate Commerce, Science, and Transportation Committee hearing entitled “Manufacturing Our Way to a Stronger Economy,” Chairman John Rockefeller IV (D) announced that he plans to develop additional legislation to strengthen the manufacturing sector of the U.S. economy.
On May 13, 2011, the following trade-related bills were introduced: