RETRO GSP Act
12/19/2024, 9:06 AMSummary of Bill HR 7555
The RETRO GSP Act, also known as Bill 118 hr 7555, is a piece of legislation currently being considered by the US Congress. The bill aims to reinstate the Generalized System of Preferences (GSP) program retroactively to January 1, 2018. The GSP program is a trade preference program that allows certain goods from developing countries to enter the United States duty-free.The bill seeks to provide relief to American businesses that have been negatively impacted by the expiration of the GSP program in 2017. By reinstating the program retroactively, the bill aims to help these businesses recover any duties they may have paid on imports from GSP-eligible countries during the period when the program was not in effect.
The RETRO GSP Act has garnered bipartisan support in Congress, with lawmakers from both parties recognizing the importance of the GSP program in promoting economic growth and development in developing countries. Supporters of the bill argue that reinstating the program retroactively will help American businesses remain competitive in the global market and support job creation in the United States. Overall, the RETRO GSP Act is a piece of legislation that aims to provide relief to American businesses impacted by the expiration of the GSP program and promote economic growth and development in developing countries.
Read the Full Bill
Current Status of Bill HR 7555
Bill HR 7555 is currently in the status of Bill Introduced since March 5, 2024. Bill HR 7555 was introduced during Congress 118 and was introduced to the House on March 5, 2024. Bill HR 7555's most recent activity was Referred to the Subcommittee on Trade. as of December 17, 2024Bipartisan Support of Bill HR 7555
Total Number of Sponsors
2Democrat Sponsors
2Republican Sponsors
0Unaffiliated Sponsors
0Total Number of Cosponsors
7Democrat Cosponsors
4Republican Cosponsors
3Unaffiliated Cosponsors
0Policy Area and Potential Impact of Bill HR 7555
Primary Policy Focus
Foreign Trade and International FinanceAlternate Title(s) of Bill HR 7555
RETRO GSP ActTo extend the Generalized System of Preferences program.RETRO GSP ActRepayment of Extra Tariffs with Renewal Of GSP ActComments
Most relevant
Sponsors and Cosponsors of HR 7555
Latest Bills
Providing for consideration of the joint resolution (S.J. Res. 18) disapproving the rule submitted by the Bureau of Consumer Financial Protection relating to "Overdraft Lending: Very Large Financial Institutions''; providing for consideration of the joint resolution (S.J. Res. 28) disapproving the rule submitted by the Bureau of Consumer Financial Protection relating to ''Defining Larger Participants of a Market for General-Use Digital Consumer Payment Applications''; providing for consideration of the bill (H.R. 1526) to amend title 28, United States Code, to limit the authority of district courts to provide injunctive relief, and for other purposes; providing for consideration of the bill (H.R. 22) to amend the National Voter Registration Act of 1993 to require proof of United States citizenship to register an individual to vote in elections for Federal office, and for other purposes; and for other purposes.
Bill HRES 282April 2, 2025
A joint resolution disapproving the rule submitted by the Bureau of Consumer Financial Protection relating to "Overdraft Lending: Very Large Financial Institutions".
Bill SJRES 18April 2, 2025
SAVE Act
Bill HR 22April 2, 2025
A joint resolution disapproving the rule submitted by the Bureau of Consumer Financial Protection relating to "Defining Larger Participants of a Market for General-Use Digital Consumer Payment Applications".
Bill SJRES 28April 2, 2025
NORRA of 2025
Bill HR 1526April 2, 2025
Expressing support for the goals and ideals of National Child Abuse Prevention Month.
Bill HRES 284April 2, 2025
Authorizing the use of Emancipation Hall in the Capitol Visitor Center for an event to celebrate the birthday of King Kamehameha I.
Bill HCONRES 24April 2, 2025
Of inquiry requesting the President to transmit certain documents relating to the dangerous, unaccountable use of AI by the United States DOGE Service to jeopardize the private information and essential services of the American people.
Bill HRES 286April 2, 2025
Expressing the sense of Congress that Trump administration tariffs on Mexico and Canada are in violation of the United States of America-Mexico-Canada Agreement.
Bill HCONRES 25April 2, 2025
Tanning Tax Repeal Act of 2025
Bill HR 1940April 2, 2025