The National Cattlemen’s Beef Association says the Senate’s vote to invoke cloture on the motion to proceed with the U.S. Generalized System of Preferences legislation takes us one step closer to finalizing Free Trade Agreements with Colombia, Panama and South Korea. NCBA’s Manager of Legislative Affairs, Kent Bacus, says – this legislation is one of the many requirements President Obama has demanded before he will send the agreements to Congress.
Bacus said the Senate is likely to consider many amendments to the legislation but he expects the legislation to eventually pass and then go before the U.S. House of Representatives for a vote. As far as predicting a timeline for the FTAs, Bacus said Senate Majority Leader Harry Reid – holds the cards – regarding how much time will be spent on the GSP bill.
Bacus adds, the Senate still has to approve the continuing resolution before it expires on September 30, in order to avoid a government shutdown. If the Senate doesn’t finish work on GSP this week, the likely timeline to consider the FTAs gets pushed to October when the Senate returns from recess. October 13th could be a target date. That’s when South Korean President Lee Myung-bak is scheduled to visit the White House for an official state visit.