Trade Adjustment Assistance Act

Trade Adjustment Assistance Act - Revises the procedure for the determination of trade adjustment assistance under the Trade Expansion Act of 1962. Provides that applications for such assistance shall be filed with the President. Authorizes community representatives to make such applications. Removes the requirement that an alleged injury forming the basis of eligibility for such assistance be a result in major part of concessions granted under trade agreements.

Provides that the Commissioners of the Tariff Commission voting for an affirmative injury determination shall also determine the amount of the increase in, or imposition of, any duty or other import restriction on an article which is necessary to prevent or remedy such injury.

Authorizes the Commission to investigate any factors which in its judgment may be contributing to increased imports of the article under investigation. Provides that in the process of determining such adjustment assistance the Commission shall afford interested parties the opportunity to be present, to present evidence, and to be heard at such hearings.

Provides that the Commission shall report to the President the determinations and other results of each investigation under such adjustment assistance proceeding. (Amends 19 U.S.C. 1901)

Provides that the Secretary of Commerce may fail to certify a firm in an industry for such assistance, after receiving an affirmative finding of injury by the Commission, when he determines that the increased quantities of imports have not been a substantial cause or threat of serious injury to such firm. Authorizes the Secretary of Labor to make a similar determination in the case of workers in an industry applying for such assistance. Authorizes the Secretary of Commerce to make a similar determination in the case of an affected community applying for such assistance.

Authorizes the President to exercise any of his functions with respect to determinations and certifications of eligibility of firms, workers, or communities to apply for adjustment assistance through such agency or other instrumentality of the United States as he may direct. (Amends 19 U.S.C. 1902)

Removes the minimum period of employment required for assistance to workers. (Amends 19 U.S.C. 1941)

Increases the trade readjustment allowance payable to an adversely affected worker to 80 percent of his average weekly wage. (Amends 19 U.S.C. 1942)

Provides that payment of trade readjustment allowances shall be made to an adversely affected worker for the entire period of his retraining, instead of for only 52 weeks as provided under present law. (Amends 19 U.S.C. 1943)

Provides that in receiving training assistance qualified workers should be provided the opportunity to pursue further training in technical, professional, and academic areas, as well as in vocational areas. (Amends 19 U.S.C. 1951)

Provides that the term "week of unemployment" shall mean any week for which an individual's remuneration for services performed during such week is less than 100 percent of his average weekly wage, instead of 75 percent under present law. (Amends 19 U.S.C. 1978)

Provides for an additional program of adjustment assistance, consisting of technical and financial assistance, to communities certified as eligible to apply for adjustment assistance.

Authorizes to be appropriated to the Secretary of Commerce such sums as may be necessary from time to time to carry out his functions in connection with furnishing such adjustment assistance to communities. Provides that the Secretary may provide to a community such technical assistance as in his judgment will materially contribute to the economic adjustment of the community.

Provides that the Secretary may provide to a community such financial assistance in the forms of guarantees of loans, agreements for deferred participations in loans, or loans, as in his judgment will materially contribute to the economic adjustment of the community. Sets forth the conditions for such financial assistance.

Provides that whoever makes a false statement of a material fact knowing it to be false, or knowingly fails to disclose a material fact, or whoever willfully overvalues any security, for the purpose of influencing in any way the action of the Secretary of Commerce under this part, or for the purpose of obtaining money, property, or anything of value under this part, shall be fined not more than $5,000 or imprisoned for not more than 2 years, or both.

Provides that in considering whether to increase a tariff rate because of economic injury to a domestic industry the President shall take into account the probable effect of such increase upon consumers. Provides that the Tariff Commission may recommend to the President a reduction or removal of such increase when, in the Commission's judgment, the effect of such increase or imposition is substantially adverse to the interests of consumers, or that the impact on United States exports and exporters is materially adverse. (Amends 19 U.S.C. 351)

Authorizes the Commission to make such a recommendation to the President in the case of international trade agreements entered into by the President. (Amends 19 U.S.C. 1982)

Provides that the President shall take all appropriate steps to insure that the availability of such adjustment assistance is made known in a prompt and effective manner throughout the United States to persons who might need such assistance, including persons in areas of substantial unemployment as determined by the Department of Labor.