Efficient Export Promotion to Help American Businesses Act of 2012 - Amends the Export Enhancement Act of 1988, with respect to assessment of federal agency resources in support of export promotion and financing, to require the Trade Promotion Coordinating Committee (TPCC) to: (1) review the proposed annual budget of each federal agency, before it is submitted to the Office of Management and Budget (OMB) and the President, to ensure coordination among federal agencies of enforcement, promotion of foreign direct investment, performance outreach, and centralization of information for exporters; and (2) recommend simplification and termination of redundant programs and changes in funding to meet the government-wide strategic plan for trade promotion efforts.
Revises contents of a TPCC annual report to Congress to include: (1) an analysis of TPCC and agency export promotion and export financing efforts compared to the export promotion efforts of other countries; (2) an analysis of factors, by state and region, that inhibit U.S. exports, including actions taken to address such factors; (3) a description of industry areas for strategic growth and changes to exports that present strategic threats to U.S. security; (4) a prioritized list of legislative recommendations that the TPCC believes would lead to an increase of U.S. exports and more efficient export promotion; and (5) input and review by the business community before being published on the TPCC and the Department of Commerce websites.
Amends the Internal Revenue Code to direct the Secretary of the Treasury, upon request of the Secretary of Commerce, to furnish tax information on returns of sole proprietorships with gross receipts from a trade or business of more than $750,000 a year and partnerships to the Bureau of Economic Analysis.
[Congressional Bills 112th Congress]
[From the U.S. Government Publishing Office]
[H.R. 5798 Introduced in House (IH)]
112th CONGRESS
2d Session
H. R. 5798
To amend the Export Enhancement Act of 1988 to improve export promotion
activities, and for other purposes.
_______________________________________________________________________
IN THE HOUSE OF REPRESENTATIVES
May 17, 2012
Mr. McDermott (for himself and Mr. Reichert) introduced the following
bill; which was referred to the Committee on Foreign Affairs, and in
addition to the Committee on Ways and Means, for a period to be
subsequently determined by the Speaker, in each case for consideration
of such provisions as fall within the jurisdiction of the committee
concerned
_______________________________________________________________________
A BILL
To amend the Export Enhancement Act of 1988 to improve export promotion
activities, and for other purposes.
Be it 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 ``Efficient Export Promotion to Help
American Businesses Act of 2012''.
SEC. 2. IMPROVED COORDINATION OF EXPORT PROMOTION ACTIVITIES OF FEDERAL
AGENCIES.
Section 2312(b) of the Export Enhancement Act of 1988 (relating to
the Trade Promotion Coordinating Committee; 15 U.S.C. 4727(b)) is
amended--
(1) in paragraph (5), by striking ``and'' after the
semicolon;
(2) by redesignating paragraph (6) as paragraph (7); and
(3) by inserting after paragraph (5) the following:
``(6) in making assessments under paragraph (5)--
``(A) review the proposed annual budget of each
agency described in paragraph (5) before the agency
submits the budget to the Office of Management and
Budget and the President for inclusion in the budget of
the United States submitted to Congress under section
1105(a) of title 31, United States Code, to ensure each
agency coordinates with the other agencies described in
paragraph (5) on enforcement, promotion of foreign
direct investment, performance outreach, centralization
of information for exporters, and other duties
described in paragraphs (1) through (5); and
``(B) recommend the combining and simplification of
programs and the termination of redundant programs and
changes in funding to meet the strategic plan as
described in its annual report to Congress under
subsection (f); and''.
SEC. 3. IMPROVED REPORTING ON EXPORT PROMOTION ACTIVITIES TO ASSIST
UNITED STATES BUSINESSES.
Section 2312(f) of the Export Enhancement Act of 1988 (relating to
the Trade Promotion Coordinating Committee; 15 U.S.C. 4727(f)) is
amended--
(1) in the matter preceding paragraph (1), by striking
``Committee on International Relations'' and inserting
``Committee on Foreign Affairs'';
(2) in paragraph (1), by striking ``and'' after the
semicolon;
(3) in paragraph (2), by striking the period at the end and
inserting a semicolon;
(4) by adding at the end the following:
``(3) an analysis of efforts of the TPCC and each agency
described in subsection (b)(5) compared to export promotion
efforts of other countries with the largest export volumes, as
well as countries with the fastest-growing export volumes, and
countries with effective export promotion programs, including
actions taken in the prior year taken to compete more
effectively;
``(4) an analysis of factors that inhibit exports by each
State and region of the United States, including actions taken
to address such factors;
``(5) a description of industry areas for strategic growth
and changes to exports that represent strategic threats to the
overall security of the United States; and
``(6) a prioritized list of legislative recommendations
that, if enacted, the TPCC believes would lead to an increase
of exports and more efficient export promotion.''; and
(5) by further adding at the end the following:
``The report required under this subsection shall include the input and
review by the business community before publication and be made
available on the TPCC website and the Department of Commerce
website.''.
SEC. 4. IMPROVING THE ACCURACY OF IMPORT AND EXPORT REPORT DATA AND
OTHER ECONOMIC REPORTS.
(a) In General.--Paragraph (1) of section 6103(j) of the Internal
Revenue Code of 1986 is amended--
(1) in subparagraph (B) by inserting ``sole proprietorships
with gross receipts from a trade or business of more than
$750,000 for the taxable year, partnerships, and'' before
``corporations'', and
(2) by adding at the end the following: ``Return
information with respect to a sole proprietorship disclosed
under the preceding sentence shall be limited to information
related to the trade or business of the sole proprietorship.''.
(b) Effective Date.--The amendment made by subsection (a) shall
apply with respect to reports issued for 2011 and thereafter.
<all>
Introduced in House
Introduced in House
Sponsor introductory remarks on measure. (CR E833)
Referred to the Committee on Foreign Affairs, and in addition to the Committee on Ways and Means, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned.
Referred to the Committee on Foreign Affairs, and in addition to the Committee on Ways and Means, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned.
Referred to the Subcommittee on Trade.
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