,,ii  #aae? ,,congress  #a/ ,session    
,s4 #bjcf  ,,9 ,,! ,,s5ate ,,( ,,!      
,,unit$ ,,/ates  ,octob] #ca1 #bjag,mr4 
,donnelly 7= himself1 ,mrs4 ,ern/1 &    
,mr4 ,portman7 introduc$ ! foll[+ bill2 
:i* 0 read twice & ref]r$ to !          
,committee on ,f9ance  ,a ,,bill  ,to   
make necess>y *anges to ! competitive   
ne$ limitations provision ( ! ,g5]aliz$ 
,sy/em ( ,pref]5ces1 & = o!r purposes4  
#a4 ,%ort title ,?is ,act may be cit$ z 
! ,competitive ,ne$ ,limitations        
,mod]nization ,act ( #bjag4  #b4 ,f9d+s 
,congress f9ds ! foll[+3  7#a7 ,!       
,g5]aliz$ ,sy/em ( ,pref]5ces1 e/abli%$ 
"u title ,v ( ! ,trade ,act ( #aigd 7#ai
 ,u4,s4,c4 #bdfa et seq471 0 creat$ to  
promote economic developm5t by exp&+    
trade opportunities4  7#b7 ,congress    
impos$ limits on ! am\nt ( trade t c\ld 
qualify = duty-free treatm5t "u !       
,g5]aliz$ ,sy/em ( ,pref]5ces1 ref]r$ to
 z ! competitive ne$ limitation4 ,?is   
limitation may be waiv$ 9 ! national    
economic int]e/4  7#c7 ,! competitive   

ne$ limitation & waiv] processes mu/ be 
c>ri$ out 9 a mann] t accurately acc\nts
 = curr5t dome/ic production & mu/ be   
bas$ on evid5ce f trade data4  7#d7 ,!  
pres5t competitive ne$ limitation review
 process is flaw$ because ! tim+ ( !    
reviews prev5t ! use ( full-ye> trade   
data1 :i* c be solv$ by %ift+ ! deadl9e 
( ! review process4  7#e7 ,! exclusion (
 products f ! competitive ne$ limitation
 is det]m9$ bas$ on ! levels ( dome/ic  
production t exi/$ 9 #aiie4 ,?is does n 
reflect ! realities ( ! curr5t economy &
 %\ld be updat$4  #c4 ,modification to  
proc$ures = competitive ne$ limitation &
 waiv]s ,section #ejc ( ! ,trade ,act ( 
#aigd 7#ai ,u4,s4,c4 #bdfc7 is am5d$ z  
foll[s3 7#a7 ,modifications to          
competitive ne$ limitation consid]ation 
,9 subsection 7c77#b7--  7,a7 9 ! matt] 
foll[+ subp>agraph 7,a77i77,,ii71 by    
/rik+ ,july #a & ins]t+ ,octob] #ae2 &  
7,b7 9 subp>agraph 7,e71 by /rik+ on    
,janu>y #a1 #aiie & ins]t+ 9 any ( !    
prec$+ ?ree cal5d> ye>s4  7#b7          

,modifications to waiv] consid]ation ,9 
subsection 7d71 by /rik+ ,july #a 9 ea* 
place x appe>s & ins]t+ ,octob] #ae4