A bill to amend the Trade Expansion Act of 1962 with respect to workers' readjustment allowances.

Grants authority under the Trade Expansion Act of 1962 to industry councils, which shall be appointed by the Secretary of Labor, to determine workers' readjustment allowances under such Act based on the degree to which: (1) dislocation of the group of workers has occurred or threatens to occur; (2) production in the United States of the article produced by such workers' firm, or an appropriate subdivision thereof, has decreased appreciably; and (3) (a) imports into the United States of an article like or directly competitive with that produced by such workers' firm, or an appropriate subdivision thereof have increased appreciably; or (b) exports from the United States of such an article have decreased appreciably, and the decrease in such exports is greater than the decrease, if any.

Provides that each of the industry councils appointed by the Secretary shall be composed of three businessmen, three labor leaders, and three public members.