On July 17, 2013, The Committee on Ways and Means issued a press release announcing the introduction of a new legislation to the House to renew the Generalized System of Preferences (GSP) program through September, 2015. The bill was introduced by Committee Chairman Dave Camp, Ranking Member Sandy Levin, Trade Subcommittee Chairman Dave Nunez, and Trade Subcommittee Ranking Member Charles Rangel.

In the release, the Committee explains that "the Senate has repeatedly used a procedure by which it passes legislation and holds it at the Senate desk. Upon House passage of identical legislation, the House bill is sent over to the Senate and is “deemed passed” without further action by the Senate."

The only change introduced in this bill is a new end date. Currently, GSP is set to expire on July 31, 2013.

Expeditors will continue to provide updates as the situation develops.

The press release is available online here. The text of the bill is here.