S 1238112th CONGRESS
To make bills
implementing trade agreements subject to a point of order unless certain conditions
are met, and for other purposes.IN THE SENATE OF THE UNITED
June 21 (legislative day, June 16), 2011
SNOWE (for herself and Mr. ROCKEFELLER) introduced the following bill; which was
read twice and referred to the Committee on Finance
make bills implementing trade agreements subject to a point of order unless certain
conditions are met, and for other purposes.
enacted by the Senate and House of Representatives of the United States of America
in Congress assembled,
SECTION 1. SHORT TITLE.
This Act may be cited as the `Currency Exchange Rate Transparency Act'.
2. LIMITATIONS ON BILLS IMPLEMENTING TRADE AGREEMENTS.
General- Notwithstanding section 151 of the Trade Act of 1974 (19 U.S.C. 2191)
or any other provision of law, any bill implementing a trade agreement between
the United States and another country (or extending permanent normal trade relations)
shall be subject to a point of order pursuant to subsection (c) unless--
(1) the bill is accompanied by a Presidential certification described in subsection
(2) the bill contains a provision approving
(1) IN GENERAL- A certification described in this subsection means a certification
submitted by the President to the Congress that, in the 10-year period preceding
the certification, the government of a country described in paragraph (2) has
not engaged in the intervention or manipulation of the rate of exchange between
that country's currency and the United States dollar for purposes of preventing
effective balance of payments adjustments or gaining unfair competitive advantage
in international trade.
(2) COUNTRY DESCRIBED- A country
described in this paragraph is a country--
respect to which the United States is entering into a trade agreement; or
(B) with respect to which the United States is extending permanent normal trade
(c) Point of Order in Senate-
(1) IN GENERAL- The Senate shall cease consideration of a bill to implement a
trade agreement (or to extend permanent normal trade relations), if--
(A) a point of order is made by any Senator against the bill because the bill
is not accompanied by a certification described in subsection (b); and
(B) the point of order is sustained by the presiding officer.
(A) WAIVERS- Before the
presiding officer rules on a point of order described in paragraph (1), any Senator
may move to waive the point of order and the motion to waive shall not be subject
to amendment. A point of order described in paragraph (1) is waived only by the
affirmative vote of a majority of the Members of the Senate, duly chosen and sworn.
(B) APPEALS- After the presiding officer rules on a point of order under this
paragraph, any Senator may appeal the ruling of the presiding officer on the point
of order as it applies to some or all of the provisions on which the presiding
officer ruled. A ruling of the presiding officer on a point of order described
in paragraph (1) is sustained unless a majority of the Members of the Senate,
duly chosen and sworn, vote not to sustain the ruling.
(C) DEBATE- Debate on a motion to waive under subparagraph (A) or on an appeal
of the ruling of the presiding officer under subparagraph (B) shall be limited
to 1 hour. The time shall be equally divided between, and controlled by, the majority
leader and the minority leader of the Senate, or their designees.