President Obama signed the Trade Adjustment Assistance Extension Act of 2011 (“TAA Extension Act”) into law on October 21, 2011. The new law took effect immediately. Passage of the TAA Extension Act by Congress was accompanied by passage of the implementing legislation for the Free Trade Agreements that the United States negotiated with Columbia, Korea, and Panama.
Originally implemented in the Trade Act of 1974, Trade Adjustment Assistance (TAA) was established to assist workers who lost their jobs as a result of increased imports or shifts in production to foreign countries. Today, several TAA programs are administered independently. TAA benefits now are available for qualifying workers, farmers, communities, and firms, although the TAA Extension Act affects how and when such funds can be distributed. Additional information about TAA programs is available on our website.
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