Cash payment bill advances in U.S. Senate
- Submitted by: manso
- Politics and Government
- 09 / 18 / 2011
A bill that would allow direct cash payments from Cuban buyers to U.S. banks was adopted by the Senate Committee on Appropriations as an amendment to a big appropriations bill for financial year 2012.
U.S. sanctions force Cuba to pay for U.S. agricultural products via third-country banks, increasing the cost of U.S. goods and making each transaction complicated.
The amendment, sponsored by Sen. Jerry Moran (R-Ks.), would only be valid for the duration of the FY2012 Financial Services and General Government Appropriations Bill.
If passed, the amendment “will fuel economic growth and enable agricultural producers to compete on a level playing field,” said a press release by Moran. “Current U.S. trade policies hurt American farmers and ranchers by making it more expensive for Cuba to purchase agriculture products from the United States. This means Cuba is buying more of its food from countries such as Vietnam and China.”
Since a U.S. law passed in 2000 that allows the sale of agricultural and medical goods to Cuba, the United States has become Cuba’s biggest source market for food imports. However, U.S. food sales peaked in 2008.
Source. www.cubastandard.com/2011/09/16/cash-payment-bill-advances-in-u-s-senate/
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