Haiti and Chile Earthquakes

Senators Baucus, Grassley Praise New Law to Spur Haiti’s Earthquake Recovery

Washington, DC—(ENEWSPF)—May 25, 2010. Senate Finance Committee Chairman Max Baucus (D-Mont.) and Ranking Member Chuck Grassley (R-Iowa) today praised the President’s signing of a law to boost recovery efforts in Haiti, following January’s devastating earthquake.  Baucus and Grassley introduced the Haiti Economic Lift Program (HELP) Act, which became law yesterday, with leaders from the House Ways and Means Committee in April of this year.  The law will expand duty-free access to the U.S. market for Haitian textile and apparel exports and extend existing trade preference programs for Haiti through 2020.

“This new law is a simple, effective way to help our neighbors in Haiti as they struggle to put their lives and their country back together after January’s tragic earthquake,” Baucus said. “This law will help expedite Haiti’s recovery, and it will provide sustainable support as Haiti works to rebuild its economy over the long run.”

“I’m pleased to learn that yesterday the President signed the Haiti Economic Lift Program Act, or HELP Act, into law,” Grassley said.  “This important legislation should have a lasting impact in helping Haiti’s economy recover from the devastating earthquake that struck the country in January.  The legislation also represents a significant instance of bicameral bipartisanship to advance a national priority when it comes to trade.  I hope the President seizes on this example to build momentum for moving other, more longstanding, items on our trade agenda, which have yet to be implemented.”

The HELP Act, signed yesterday, encourages long-term economic growth in Haiti by expanding tariff benefits for certain Haitian textile and apparel exports to the United States.  Baucus, Grassley and their colleagues in the House worked closely with the U.S. retail and textile industries to craft the HELP Act, and both industries have expressed their support for the new law.

The HELP Act passed the Senate and the House of Representatives earlier this month and was signed into law by President Obama yesterday.  Complete text, a summary and more information on the HELP Act is available in the newsroom of the Finance Committee website at:  http://finance.senate.gov/newsroom/chairman/release/?id=39cd26b7-158e-4b1d-aa88-7b809e896478.

Source: finance.senate.gov