To reauthorize the Trade Adjustment Assistance program through fiscal year 2001.

Amends the Trade Act of 1974 to authorize appropriations to the Department of Labor for FY 1999 through 2001 for: (1) trade adjustment assistance to displaced workers and for firms; and (2) the North American Free Trade Agreement Transitional Adjustment Assistance Program.

Increases the total amount of payments for job training of displaced workers due to import competition to $30 million for the period October 1, 1998, through June 30, 1999.

Provides that a certification of eligibility to apply for trade adjustment assistance shall not cover a worker whose last total or partial separation from a firm occurred more than two years (currently, one year) before the date of a petition on which such certification was granted (effectively extending the time for filing the petition for worker assistance).