legislation: 117-hr-6171

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bill_id congress bill_type bill_number title policy_area introduced_date latest_action_date latest_action_text origin_chamber sponsor_name sponsor_state sponsor_party sponsor_bioguide_id cosponsor_count summary_text update_date url
117-hr-6171 117 hr 6171 CNL Update Act Foreign Trade and International Finance 2021-12-07 2021-12-07 Referred to the House Committee on Ways and Means. House Rep. Walorski, Jackie [R-IN-2] IN R W000813 4 CNL Update Act This bill makes changes to the procedures for competitive need limitations (CNL) and de minimis waivers under the Generalized System of Preferences (GSP) program. CNLs are quantitative ceilings on GSP benefits for each product and beneficiary developing country; a beneficiary developing country loses its GSP eligibility with respect to a product if the CNLs are exceeded and no waiver is granted. Currently, the President must terminate the duty-free treatment for a product from a beneficiary developing country if (1) imports of a product from a single country reach a specified threshold value, which increases by $5 million each calendar year; or (2) 50% or more of total U.S. imports of a product entering under the GSP come from a single country. This bill revises the annual adjustment amount from $5 million to an amount equal to 6.5%. Further, the bill sets the annual increase in the de minimis level to 6.5%. Currently, the de minimis level is adjusted each year in increments of $500,000. 2022-12-30T03:04:05Z  

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