House Democrats say GSP, MTB bill crafted to fix ‘significant shortcomings’ in Senate’s

House Ways & Means Committee Democrats have introduced legislation to reauthorize and modernize two trade-preference programs that they say will address “significant shortcomings in recently passed Senate legislation,” panel leaders said in a statement on Thursday. The “ Generalized System of Preferences and Miscellaneous Tariff Bill Modernization Act of 2021 ,” released on Thursday, would extend the GSP program through Dec. 31, 2024, a new MTB through Dec. 31, 2023, and provide retroactive benefits. The GSP program offers duty-free treatment...