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Reply #7: Not very much detail. Here's both more and a lot more. [View All]

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Igel Donating Member (1000+ posts) Send PM | Profile | Ignore Wed Aug-11-10 04:05 PM
Response to Reply #2
7. Not very much detail. Here's both more and a lot more.
"More":

http://www.govtrack.us/congress/bill.xpd?bill=h111-4380&tab=summary

"12/16/2009--Introduced.
Miscellaneous Trade and Technical Corrections Act of 2009 - Amends the Harmonized Tariff Schedule of the United States to provide for duty suspensions and reductions through December 31, 2012, for specified chemicals and other products. Extends existing suspensions and reductions of duties through December 31, 2012, for other specified chemicals and products. Imposes, suspends, and increases and/or decreases the duty on certain chemicals through December 31, 2012. Extends, through December 31, 2012, the suspension of duty on certain products. Imposes, through December 31, 2012, a duty on: (1) brakes designed for bicycles; and (2) certain 12V lead-acid storage batteries. Suspends, through December 31, 2012, the duty on: (1) certain catalytic converter mats of ceramic fibers; and (2) certain herbicides. Extends the duty on aspirin through December 31, 2012. Amends the Consolidated Omnibus Budget Reconciliation Act of 1985 (COBRA) to extend certain customs fees for the processing of merchandise entered into the United States through June 14, 2018, and June 28, 2018, respectively. Amends the Corporate Estimated Tax Shift Act of 2009 to increase the estimated tax payments of corporations with at least $1 billion in assets in the third quarter of 2014 by 0.75%."

"Lot more":
http://www.govtrack.us/congress/billtext.xpd?bill=h111-4380

Annoyingly, the media are billing it as something extraordinary. Congress pretty much passes one of these every year to tweak import/tariff law. A lot of this bill is an extension of the previous set of tweaks. Of course, a number of reductions in tariffs were set to expire at the end of 2009; this bill was intended to extend them, but it didn't pass so I think they did expire.
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