The proposed changes in HB 722 specifically target improvements in trade relations, aiming to create a more favorable environment for businesses engaging in nearshoring activities. By enhancing cooperation with Western Hemisphere nations, the bill has the potential to create increased economic activity not only within Texas but also in neighboring countries. This initiative aligns with broader federal goals of reinforcing supply chains post-pandemic and aims at maximizing regional economic potential to foster better opportunities for local job markets.
Summary
House Bill 722, known as the Western Hemisphere Nearshoring Act, is designed to promote greater economic cooperation and trade among countries within the Western Hemisphere. The bill aims to facilitate nearshoring, which refers to the practice of relocating business operations closer to home markets, primarily to enhance supply chain resilience and reduce dependence on overseas manufacturing. Proponents argue that this legislative initiative could lead to increased job opportunities within the states and bolster economic growth by supporting businesses that consider relocating their operations to neighboring countries.
Contention
However, there are notable points of contention surrounding HB 722, particularly regarding the implications for labor standards and environmental regulation. Critics argue that while the bill promotes economic development, it may inadvertently lead to a race to the bottom concerning labor practices and environmental protections in countries with less stringent regulations. There are concerns that this could lead to exploitation of workers and a degradation of environmental standards. Legislators and advocacy groups are divided, with some emphasizing the potential economic benefits while others stress the need for strong protections to accompany any such initiatives.
A resolution expressing concern about economic and security conditions in Mexico and reaffirming the interest of the United States in mutually beneficial relations with Mexico based on shared interests on security, economic prosperity, and democratic values, and for other purposes.
Buy Low and Sell High Act This bill revises requirements concerning the Strategic Petroleum Reserve (SPR) and sets forth provisions to reduce the demand for petroleum fuel and increase fuel supply. For example, the bill directs the Department of Energy (DOE) to establish within the SPR an Economic Petroleum Reserve of up to 350 million barrels of crude oil. DOE must also establish a national network of Strategic Refined Petroleum Product Reserves to store up to 250 million barrels of gasoline and diesel fuel, which may be sold when there is a severe fuel supply interruption within the district in which the reserve is located. In addition, the bill increases the cap on the amount of barrels of petroleum distillate that may be stored in the Northeast Home Heating Oil Reserve from two million to four million. It also establishes limits on the sale and exportation of petroleum products from such reserves. Further, the bill establishes provisions concerning electrifying the transportation sector, zero-emission vehicles, and a program to increase the amount of crude oil refined in oil refineries in certain countries in the Western Hemisphere.
Expressing support for the designation of June 19, 2023, as "World Sickle Cell Awareness Day" in order to increase public alertness across the United States and global community about sickle cell disease, the continued need for empirical research, early detection screenings for sickle cell trait carriers, novel effective treatments leading to a cure, and preventative care programs with respect to complications from sickle cell anemia and conditions related to sickle cell disease.
Recognizing the contributions of African Americans to the musical heritage of the United States and the need for greater access to music education for African-American students and supporting the designation of June 2023 as African-American Music Appreciation Month.