White House Seeks Budget Increase for Trade Agencies
President Obama released March 4 his budget proposal for fiscal year 2015, which begins Oct. 1, 2014. Highlights of the president’s funding requests for trade-related agencies include the following.
- boosts the budget for the renamed International Trade and Investment Administration by 8% to $497 million, including $15 million to accelerate operations of the Interagency Trade Enforcement Center and $20 million to expand SelectUSA, which promotes foreign direct investment in the U.S.
- includes $111 million for the Bureau of Industry and Security, including an extra $9 million to support the bureau’s expanded export licensing and export enforcement operations associated with the shift of controlled items from the International Trade in Arms Regulations to the Export Administration Regulations
- expands the number of U.S. Customs and Border Protection officers by 2,000 to a record-high 25,775 to accelerate processing and inspection of cargo and passengers at U.S. ports of entry
- raises CBP funding for the enforcement of customs and other laws from $8.1 billion to $8.3 billion, including $812.4 million for automation modernization and $141.1 million for development of the Automated Commercial Environment
- increases funding for the Office of the U.S. Trade Representative from $52.6 million to $56.2 million
- provides $123 million for the Consumer Product Safety Commission, a 4.2% increase
- begins scaling the CPSC’s import surveillance initiative to a full-scale national program and proposes that an import surveillance user fee be enacted in FY 2015 with collections beginning by FY 2016
- funds the Federal Maritime Commission at $25.7 million, up from $24.7 million
- boosts the International Trade Commission’s budget by 4.2% to $86.5 million
- proposes a four-year $302 billion surface transportation reauthorization paid for with transition revenue from business tax reform