118 S2952 IS: AGOA Extension Act of 2023 U.S. Senate 2023-09-27 text/xml EN Pursuant to Title 17 Section 105 of the United States Code, this file is not subject to copyright protection and is in the public domain.

II118th CONGRESS1st SessionS. 2952IN THE SENATE OF THE UNITED STATESSeptember 27 (legislative day, September 22), 2023Mr. Kennedy introduced the following bill; which was read twice and referred to the Committee on FinanceA BILLTo extend the African Growth and Opportunity Act.

1.

Short title

This Act may be cited as the AGOA Extension Act of 2023.

2.

Findings; sense of Congress

(a)

Findings

Congress makes the following findings:(1)Since its enactment in 2000, the African Growth and Opportunity Act (19 U.S.C. 3701 et seq.) has been the centerpiece of trade relations between the United States and sub-Saharan Africa and has enhanced trade, investment, job creation, and democratic institutions throughout Africa.(2)Trade and investment, as facilitated by the African Growth and Opportunity Act, promote economic growth, development, poverty reduction, democracy, the rule of law, and stability in sub-Saharan Africa.(3)Since its initial enactment, the trade preference program under the African Growth and Opportunity Act, which has bipartisan support, has played an integral role in creating economic opportunity in sub-Saharan Africa, as well as supporting nearly 120,000 jobs in the United States.(b)

Sense of Congress

It is the sense of Congress that—(1)it is in the interest of the United States to engage and compete in emerging markets in sub-Saharan African countries, to boost trade and investment between the United States and sub-Saharan African countries, and to renew the African Growth and Opportunity Act;(2)the long-term economic security of the United States is enhanced by strong economic and political ties with the fastest-growing economies in the world, many of which are in sub-Saharan Africa;(3)it is a goal of the United States to further integrate sub-Saharan African countries into the global economy, stimulate economic development in Africa, and diversify sources of growth in sub-Saharan Africa;(4)the elimination of barriers to trade and investment in sub-Saharan Africa, including high tariffs, forced localization requirements, restrictions on investment, and customs barriers, will create opportunities for workers, businesses, farmers, and ranchers in the United States and sub-Saharan African countries; and(5)extending the African Growth and Opportunity Act for 20 years provides stability for all parties involved and creates more time before Congress must again address its expiration.

3.

Extension of African Growth and Opportunity Act

(a)

In general

Section 506B of the Trade Act of 1974 (19 U.S.C. 2466b) is amended—(1)by striking section 506A(c) and inserting section 506A(e); and(2)by striking September 30, 2025 and inserting September 30, 2045.(b)

African Growth and Opportunity Act

(1)

In general

Section 112(g) of the African Growth and Opportunity Act (19 U.S.C. 3721(g)) is amended by striking September 30, 2025 and inserting September 30, 2045.(2)

Extension of regional apparel article program

Section 112(b)(3)(A) of the African Growth and Opportunity Act (19 U.S.C. 3721(b)(3)(A)) is amended—(A)in clause (i), by striking 21 succeeding and inserting 41 succeeding; and(B)in clause (ii)(II), by striking September 30, 2025 and inserting September 30, 2045.(3)

Extension of third-country fabric program

Section 112(c)(1) of the African Growth and Opportunity Act (19 U.S.C. 3721(c)(1)) is amended—(A)in the paragraph heading, by striking September 30, 2025 and inserting September 30, 2045;(B)in subparagraph (A), by striking September 30, 2025 and inserting September 30, 2045; and(C)in subparagraph (B)(ii), by striking September 30, 2025 and inserting September 30, 2045.