On July 19, 2010, the Senate Finance Committee reported S. 3607, a bill to make appropriations for the Department of Homeland Security for the fiscal year ending September 30, 2011. (S. Rept. No. 111-222).
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On July 19, 2010, Senators Stabenow (D) and Brown (D) sent a letter to President Obama expressing concern over the Administration’s proposed U.S.-Korea free trade agreement. The senators, Congressionally-appointed members of the President’s Export Council, urged the President to “drive a hard bargain with Korea” in any U.S.-Korea free trade agreement in order to combat unfair trade practices and protect U.S. jobs and innovation.
The House Ways and Means Committee's Trade Subcommittee announced that it would hold a hearing on enhancing the U.S.-European Union (EU) trade relationship on July 27, 2010.
On July 19, 2010 Representative Dingell (D) wrote a letter to Senator Feinstein (D) calling on her to stop blocking a vote on food safety legislation in the Senate. According to the letter, the cause for the Senate’s delayed consideration of food safety legislation is Senator Feinstein’s insistence on adding controversial language to the bill that would ban the use of bisphenol A (BPA) in food and beverage containers.
The Senate has reached a unanimous-consent agreement that on July 20, 2010, it will resume consideration of the Senate amendment of House-passed H.R. 4213, the American Jobs and Closing Tax Loopholes Act (Tax Extenders or Jobs bill). (The House-passed version of H.R. 4213 included cotton and wool fund provisions, etc.) During its consideration of H.R. 4213 on July 20, 2010, the Senate is expected to vote on a motion to end debate on the measure.
On July 15, 2010, the following executive communications were received by Congress:
The following are the trade-related hearings scheduled for July 19-24, 2010:
The House Transportation and Infrastructure Committee has issued a press release announcing that on July 14, 2010, Committee Member Markey introduced a bill that would rescind unspent funds authorized for Members’ High Priority Projects in surface transportation bills dating back 23 years. H.R. 5730, the “Surface Transportation Earmark Rescission, Savings, and Accountability Act”, rescinds $713.208 million of federal-aid highway contract authority for 309 Member-designated high priority projects from the surface transportation authorization acts of 2005, 1998, 1991, and 1987
On July 22, 2010, the House Ways and Means Committee will hold a hearing on Transfer Pricing Issues. According to the Committee, the transfer pricing rules have been updated and modified many times over the last decade, yet still foster controversy. Pursuant to these concerns, the Committee requested that the Joint Committee on Taxation (JCT) study and report back on the issue of income shifting and transfer pricing. As part of background material for the hearing, the JCT will provide a summary of ongoing work, containing a discussion of the issues as well as case studies, which will be a focus of this hearing.
On July 13, 2010, the House Judiciary Subcommittee on Courts and Competition Policy held a hearing to consider the impact of China’s new Antimonopoly Law (AML) on U.S. companies.