AGOA V - Extension of third country fabric preferences to 2015

With the crucial AGOA third country fabric provisions about to expire by September 30, 2012, Congress passed legislation extending this provision of the AGOA legislation by a further three years to 2015. Had Congress not acted prior leaving for recess, lesser-developed AGOA beneficiary countries - which make up the majority of beneficiaries of the legislation - would have lost duty-free access for their apparel goods that are manufactured domestically with yarn and fabric imported from abroad. Senator Coburn sought, while not objecting to the AGOA extension per se, had sought to fund the cost (of preferences) associated with the legislation - calculated at $200 million - to be budgeted for in the year of the legislation rather than over an extended period. The Coburn amendment was rejected by Congress and the legislation was able to pass by consent.

Introduced Jun 21, 2012
Referred to Committee Jun 21, 2012
Passed Senate Aug 02, 2012
Passed House of Representatives Aug 02, 2012
Signed into law by the President Aug 10, 2012

 

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