Free Trade With Cuba Act

Summary: Free Trade With Cuba Act - Amends the Foreign Assistance Act of 1961 to repeal the embargo on trade with Cuba. 
(Sec. 3) Prohibits the exercise by the President with respect to Cuba of certain authorities conferred by the Trading With the Enemy Act and exercised on July 1, 1977, as a result of a specified national emergency.  Declares that any prohibition on exports to Cuba under the Export Administration Act of 1979 shall cease to be effective. Authorizes the President to impose export controls with respect to Cuba and exercise certain authorities under the International Emergency Economic Powers Act only on account of an unusual and extraordinary threat to U.S. national security that did not exist before enactment of this Act. 
Repeals the Cuban Democracy Act. 
Amends the Internal Revenue Code to terminate the denial of foreign tax credit with respect to Cuba. 
(Sec. 4) Authorizes common carriers to install, maintain, and repair telecommunications equipment and facilities in Cuba, and otherwise provide telecommunications services between the United States and Cuba. 
(Sec. 5) Prohibits regulation or banning of travel to and from Cuba by U.S. citizens or residents, or of any transactions incident to travel. 
(Sec. 6) Directs the U.S. Postal Service to provide direct mail service to and from Cuba. 
(Sec. 7) Urges the President to take all necessary steps to conduct negotiations with the Government of Cuba to:  (1) settle claims of U.S. nationals against Cuba for the taking of property; and (2) secure protection of internationally recognized human rights.

SECTION 1. SHORT TITLE.

    This Act may be cited as the ``Free Trade With Cuba Act''.

SEC. 2. FINDINGS.

    The Congress finds that--
            (1) with the end of the Cold War and the collapse of the 
        Soviet Union, Cuba is no longer a threat to the United States 
        or the Western Hemisphere;
            (2) the continuation of the embargo on trade between the 
        United States and Cuba that was declared in February of 1962 is 
        counterproductive, adding to the hardships of the Cuban people 
        while making the United States the scapegoat for the failures 
        of the communist system;
            (3) in the former Soviet Union, the Eastern bloc countries, 
        China, and Vietnam, the United States is using economic, 
        cultural, academic, and scientific engagement to support its 
        policy of promoting democratic and human rights reforms; and
            (4) the United States can best support democratic change in 
        Cuba by promoting trade and commerce, travel, communications, 
        and cultural, academic, and scientific exchanges.

SEC. 3. REMOVAL OF PROVISIONS RESTRICTING TRADE AND OTHER RELATIONS 
              WITH CUBA.

    (a) Authority for Embargo and Sugar Quota.--Section 620(a) of the 
Foreign Assistance Act of 1961 (22 U.S.C. 2370(a)) is repealed.
    (b) Trading With the Enemy Act.--The authorities conferred upon the 
President by section 5(b) of the Trading With the Enemy Act, which were 
being exercised with respect to Cuba on July 1, 1977, as a result of a 
national emergency declared by the President before that date, and are 
being exercised on the day before the effective date of this Act, may 
not be exercised on or after such effective date with respect to Cuba. 
Any regulations in effect on the day before such effective date 
pursuant to the exercise of such authorities, shall cease to be 
effective on such date.
    (c) Exercise of Authorities Under Other Provisions of Law.--
            (1) Removal of prohibitions.--Any prohibition on exports to 
        Cuba that is in effect on the day before the effective date of 
        this Act under the Export Administration Act of 1979 shall 
        cease to be effective on such effective date.
            (2) Authority for new restrictions.--The President may, on 
        and after the effective date of this Act--
                    (A) impose export controls with respect to Cuba 
                under section 5, 6(j), 6(l), or 6(m) of the Export 
                Administration Act of 1979, and
                    (B) exercise the authorities he has under the 
                International Emergency Economic Powers Act with 
                respect to Cuba pursuant to a declaration of national 
                emergency required by that Act that is made on account 
                of an unusual and extraordinary threat, that did not 
                exist before the enactment of this Act, to the national 
                security, foreign policy, or economy of the United 
                States.
    (d) Cuban Democracy Act.--The Cuban Democracy Act (title XVII of 
Public Law 102-484) is repealed.
    (e) Termination of Denial of Foreign Tax Credit With Respect to 
Cuba.--Subparagraph (A) of section 901(j)(2) of the Internal Revenue 
Code of 1986 (relating to denial of foreign tax credit, etc., with 
respect to certain foreign countries) is amended by adding at the end 
thereof the following new flush sentence:
                ``Notwithstanding the preceding sentence, this 
                subsection shall not apply to Cuba after the date which 
                is 60 days after the date of the enactment of this 
                sentence.''.

SEC. 4. TELECOMMUNICATIONS EQUIPMENT AND FACILITIES.

    Any common carrier within the meaning of section 3 of the 
Communications Act of 1934 (47 U.S.C. 153) is authorized to install, 
maintain, and repair telecommunications equipment and facilities in 
Cuba, and otherwise provide telecommunications services between the 
United States and Cuba. The authority of this section includes the 
authority to upgrade facilities and equipment.

SEC. 5. TRAVEL.

    (a) In General.--Travel to and from Cuba by individuals who are 
citizens or residents of the United States, and any transactions 
ordinarily incident to such travel, may not be regulated or prohibited 
if such travel would be lawful in the United States.
    (b) Transactions Incident to Travel.--Any transactions ordinarily 
incident to travel which may not be regulated or prohibited under 
subsection (a) include, but are not limited to--
            (1) transactions ordinarily incident to travel or 
        maintenance in Cuba; and
            (2) normal banking transactions involving foreign currency 
        drafts, traveler's checks, or other negotiable instruments 
        incident to such travel.

SEC. 6. DIRECT MAIL DELIVERY TO CUBA.

    The United States Postal Service shall take such actions as are 
necessary to provide direct mail service to and from Cuba, including, 
in the absence of common carrier service between the 2 countries, the 
use of charter providers.

SEC. 7. NEGOTIATIONS WITH CUBA.

    (a) Negotiations.--The President should take all necessary steps to 
conduct negotiations with the Government of Cuba--
            (1) for the purpose of settling claims of nationals of the 
        United States against the Government of Cuba for the taking of 
        property by such government; and
            (2) for the purpose of securing the protection of 
        internationally recognized human rights.
    (b) Definitions.--As used in this section, the terms ``national of 
the United States'' and ``property'' have the meanings given those 
terms in section 502 of the International Claims Settlement Act of 1949 
(22 U.S.C. 1643a).

SEC. 8. EFFECTIVE DATE.

    This Act shall take effect 60 days after the date of the enactment 
of this Act.