Trade Act of 2002H.R. 3009, Public Law 107-210

August 6, 2002

Including TAA, a Small, Complex “New” Program

Major Elements

Trade Adjustment Assistance Amendments Trade Promotion “Fast Track” Authority Andean Trade Preferences Other Trade Preferences and Provisions

Trade Adjustment Assistance

Reauthorize from Oct. 2001 to Sept. 2007 Consolidate TAA and NAFTA-TAA Expand eligibility “upstream” &

“downstream” Double funds to $220 million for training Extend cash benefits to 78 weeks, plus 26

more if needed to finish training

New Programs for TAA-Eligibles

Refundable tax credit for health insurance premiums paid

> Operated by U.S. Treasury> Eligibility, benefits determined monthly

Wage subsidies for older workers on TRA> Pays half of wage difference for over 50> Paid from state TAA allowances fund (see § 124)

TAA Alignment Provisions

Allow employer-based training like OJT Give states 2 additional years to spend funds Deliver TAA benefits and information thru

one-stop centers File petitions with governor, USDOL at the

same time Raise ceiling on job search, relocation

allowances 50 percent

Other TAA & WIA Provisions

Extend TAA for firms until October 2007 New TAA for farmers and ranchers in groups of

“commodity producers” (USDA) Allow USDOL to fund NEG projects that –

> Help TAA eligibles get health care coverage

> Provide transportation, child care, other support to TAA participants in training

> See § 203 of the legislation Effective date November 5, 2002 – Election Day