II 

112TH CONGRESS 

1ST SESSION S. 1238 

To make bills implementing trade agreements subject to a point of order 

unless certain conditions are met, and for other purposes. 

IN THE SENATE OF THE UNITED STATES 

JUNE 21 (legislative day, JUNE 16), 2011 

Ms. SNOWE (for herself and Mr. ROCKEFELLER) introduced the following bill; 

which was read twice and referred to the Committee on Finance 

A BILL 

To make bills implementing trade agreements subject to a 

point of order unless certain conditions are met, and 

for other purposes. 

1 Be it enacted by the Senate and House of Representa2 tives of the United States of America in Congress assembled, 

3 SECTION 1. SHORT TITLE. 

4 This Act may be cited as the ‘‘Currency Exchange 

5 Rate Transparency Act’’. 

6 SEC. 2. LIMITATIONS ON BILLS IMPLEMENTING TRADE 

7 AGREEMENTS. 

8 (a) IN GENERAL.—Notwithstanding section 151 of 

9 the Trade Act of 1974 (19 U.S.C. 2191) or any other pro10 vision of law, any bill implementing a trade agreement beVerDate Mar 15 2010 06:38 Jun 22, 2011 Jkt 099200 PO 00000 Frm 00001 Fmt 6652 Sfmt 6201 E:\BILLS\S1238.IS S1238

smartinez on DSK6TPTVN1PROD with BILLS
2 

•S 1238 IS

1 tween the United States and another country (or extend2 ing permanent normal trade relations) shall be subject to 

3 a point of order pursuant to subsection (c) unless— 

4 (1) the bill is accompanied by a Presidential 

5 certification described in subsection (b); and 

6 (2) the bill contains a provision approving that 

7 certification. 

8 (b) CERTIFICATION.— 

9 (1) IN GENERAL.—A certification described in 

10 this subsection means a certification submitted by 

11 the President to the Congress that, in the 10-year 

12 period preceding the certification, the government of 

13 a country described in paragraph (2) has not en14 gaged in the intervention or manipulation of the rate 

15 of exchange between that country’s currency and the 

16 United States dollar for purposes of preventing ef17 fective balance of payments adjustments or gaining 

18 unfair competitive advantage in international trade. 

19 (2) COUNTRY DESCRIBED.—A country de20 scribed in this paragraph is a country— 

21 (A) with respect to which the United 

22 States is entering into a trade agreement; or 

23 (B) with respect to which the United 

24 States is extending permanent normal trade re25 lations 


smartinez on DSK6TPTVN1PROD with BILLS
3 

•S 1238 IS

1 (c) POINT OF ORDER IN SENATE.— 

2 (1) IN GENERAL.—The Senate shall cease con3 sideration of a bill to implement a trade agreement 

4 (or to extend permanent normal trade relations), 

5 if— 

6 (A) a point of order is made by any Sen7 ator against the bill because the bill is not ac8 companied by a certification described in sub9 section (b); and 

10 (B) the point of order is sustained by the 

11 presiding officer. 

12 (2) WAIVERS AND APPEALS.— 

13 (A) WAIVERS.—Before the presiding offi14 cer rules on a point of order described in para15 graph (1), any Senator may move to waive the 

16 point of order and the motion to waive shall not 

17 be subject to amendment. A point of order de18 scribed in paragraph (1) is waived only by the 

19 affirmative vote of a majority of the Members 

20 of the Senate, duly chosen and sworn. 

21 (B) APPEALS.—After the presiding officer 

22 rules on a point of order under this paragraph, 

23 any Senator may appeal the ruling of the pre24 siding officer on the point of order as it applies 

25 to some or all of the provisions on which the 


smartinez on DSK6TPTVN1PROD with BILLS
4 

•S 1238 IS

1 presiding officer ruled. A ruling of the presiding 

2 officer on a point of order described in para3 graph (1) is sustained unless a majority of the 

4 Members of the Senate, duly chosen and sworn, 

5 vote not to sustain the ruling. 

6 (C) DEBATE.—Debate on a motion to 

7 waive under subparagraph (A) or on an appeal 

8 of the ruling of the presiding officer under sub9 paragraph (B) shall be limited to 1 hour. The 

10 time shall be equally divided between, and con11 trolled by, the majority leader and the minority 

12 leader of the Senate, or their designees. 

Æ 


smartinez on DSK6TPTVN1PROD with BILLS