,i  #aah? ,,congress  #b;d ,session  ,h4
 ,r4 #geee  ,,9 ,,! ,,h\se ,,(          
,,repres5tatives  ,m>* #e1 #bjbd,ms4    
,wass]man ,s*ultz 7= h]self1 ,mr4       
,diaz-,bal>t1 ,ms4 ,wilson ( ,florida1  
,mr4 ,ru!r=d1 ,mrs4                     
,*]filus-,mc,cormick1 & ,ms4 ,salaz>7   
introduc$ ! foll[+ bill2 :i* 0 ref]r$ to
 ! ,committee on ,ways & ,means  ,a     
,,bill  ,to ext5d ! ,g5]aliz$ ,sy/em (  
,pref]5ces program4  #a4 ,%ort title    
,?is ,act may be cit$ z ! ,repaym5t (   
,extra ,t>iffs ) ,r5ewal ,( ,,gsp ,act  
or ! ,,retro ,,gsp ,act4  #b4 ,f9d+s &  
s5se ( ,congress  7a7 ,f9d+s ,congress  
makes ! foll[+ f9d+s3 7#a7 ,! ,g5]aliz$ 
,sy/em ( ,pref]5ces 78,,gsp07 program   
has be5 a corn]/one ( ,unit$ ,/ates     
trade policy = half a c5tury & has play$
 a pivotal role 9 fo/]+ economic gr[? & 
developm5t 9 l[- & middle-income        
c\ntries :ile b5efit+ ,am]ican consum]s1
 bus9esses1 & work]s4  7#b7 ,! ,,gsp    
program s]ves ! economic1 /rategic1     
security1 & =eign policy int]e/s &      

objectives ( ! ,unit$ ,/ates1 includ+ ! 
,unit$ ,/ates' /rategic competition ) ! 
,p's ,republic ( ,*9a1 by inc5tiviz+    
increas$ trade1 promot+ global /&>ds (  
liv+1 & /r5g!n+ our economic engagem5t )
 develop+ economies4  7#c7 ,! ext5d$    
lapse 9 congressional au?orization = !  
,,gsp program1 f ,decemb] #ca1 #bjbj to 
! date ( enactm5t ( ?is ,act1 has       
und]m9$ ^! int]e/s & objectives1 result$
 9 significant f9ancial /ra9 on ,am]ican
 companies1 & contribut$ to high] prices
 = ,am]ican consum]s4  7#d7 ,ov]        
#c1jjj1jjj1jjj 9 e/imat$ t>iffs h be5   
paid 9 t>iffs by ,am]ican bus9esses s9ce
 ! expiration ( ! ,,gsp program1 halt+  
bus9ess expansion1 h9d]+ job creation1 &
 prev5t+ crucial inve/m5ts 9 op]ations &
 infra/ructure4  7#e7 ,delays &         
unc]ta9ty surr\nd+ ! future ( ! ,,gsp   
program h inhibit$ /rategic plann+ =    
companies int]e/$ 9 reconfigur+ _!      
supply *a9s to align _! inve/m5ts )     
pr9ciples ( ne>-%or+ & fri5d-%or+1      
comp\nd+ ! *all5ge pos$ by billions (   

doll>s 9 additional t>iffs4  7#f7       
,congress has hi/orically provid$ = full
 retroactive repaym5t ( t>iffs impos$ on
 ,am]ican companies z a result ( lapses 
9 au?orization = ! ,,gsp program :5     
r5ew+ or ext5d+ ! program4  7b7 ,s5se ( 
,congress ,x is ! s5se ( ,congress t !  
r5ewal ( ! ,,gsp program %\ld be        
accompani$ by ! retroactive return (    
t>iffs paid on ! entry ( articles t w\ld
 h receiv$ duty-free or pref]5tial      
treatm5t if ! program _h be5 r5ew$4  #c4
 ,ext5sion ( ,g5]aliz$ ,sy/em (         
,pref]5ces  7a7 ,9 g5]al ,section #eje (
 ! ,trade ,act ( #aigd 7#ai ,u4,s4,c4   
#bdfe7 is am5d$ by /rik+ ,decemb] #ca1  
#bjbj & ins]t+ ,decemb] #ca1 #bjbi4  7b7
 ,application ( retroactive treatm5t    
,not)/&+ section #eje ( ! ,trade ,act ( 
#aigd 7#ai ,u4,s4,c4 #bdfe71 section    
#ead ( ! ,t>iff ,act ( #aicj 7#ai       
,u4,s4,c4 #aead71 or any o!r provision (
 law & subject to subsection 7c71 any   
entry ( a cov]$ article to :i* duty-free
 treatm5t or o!r pref]5tial treatm5t "u 

title ,v ( ! ,trade ,act ( #aigd 7#ai   
,u4,s4,c4 #bdfa et seq47 w\ld h appli$  
if ! entry _h be5 made on ,decemb] #ca1 
#bjbj1 t 0 made-- 7#a7 aft] ,decemb]    
#ca1 #bjbj2 &  7#b7 be=e ! date (       
enactm5t ( ?is ,act1  %all be liquidat$ 
or reliquidat$ z ?\gh su* entry occurr$ 
on ,decemb] #ca1 #bjbj4  7c7 ,reque/s ,a
 liquidation or reliquidation may be    
made "u subsection 7b7 ) respect to an  
entry only if a reque/ !re= is fil$ )   
,u4,s4 ,cu/oms & ,bord] ,protection n   
lat] ?an #ahj days aft] ! date ( !      
enactm5t ( ?is ,act t conta9s suffici5t 
in=mation to enable ,u4,s4 ,cu/oms &    
,bord] ,protection-- 7#a7 to locate !   
entry2 or  7#b7 to recon/ruct ! entry if
 x _c be locat$4  7d7 ,paym5t ( am\nts  
ow$ ,any am\nts ow$ by ! ,unit$ ,/ates  
pursuant to ! liquidation or            
reliquidation ( an entry ( a cov]$      
article "u subsection 7b7 %all be paid1 
)\t int]e/1 n lat] ?an #ij days aft] !  
date ( ! liquidation or reliquidation 7z
 ! case may be74  7e7 ,def9itions ,9 ?is

 section-- 7#a7 ! t]m 8cov]$ article0   
means an article f a c\ntry t is a      
b5efici>y develop+ c\ntry "u title ,v ( 
! ,trade ,act ( 7#ai ,u4,s4,c4 #bdfa et 
seq47 z ( ,decemb] #ca1 #bjbj2 &  7#b7 !
 t]ms 8ent]0 & 8entry0 include a )drawal
 f a w>eh\se = consumption4