Date: October 3, 1984
Subject: Steel Import Stabilization Act
Description: Passage of the bill to request that the President negotiate a voluntary agreement with steel-producing nations to limit shipments to the United States to 17 percent of the U.S. market. The agreement would be contingent on domestic steel producers' willingness to modernize plants and aid unemployed or laid-off workers. The bill also would extend for two years the Trade Adjustment Assistance Program which provides government help to workers whose jobs are eliminated because of foreign competition. This bill would also force steel companies to invest 1% of their net profits in worker retraining and resettlement.
Result: Bill Passed, 285-134
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