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The continued rise in the U.S.-China trade imbalance, complaints from several U.S. manufacturing firms over the competitive challenges posed by cheap Chinese imports, and concerns that U.S. manufacturing jobs are being lost to Chinese competitors have led several Members to call on the Bush Administration to take a more aggressive stance against certain Chinese trade policies deemed to be unfair. This report explores these issues in detail, especially concerning the lack of protection for U.S. IPR.

The Economic Growth and Tax Relief Reconciliation Act of 2001 (EGTRRA, P.L. 107-16) repeals the estate tax in 2010. During the phase-out period, the new law increases the exempt amount to $3.5 million by 2009 ($1.5 million in 2005), lowers the top rate to 45% by 2007 (the top rate in 2005 is 47%), and repeals the federal credit for state death taxes in 2005. The federal gift tax remains though the rate is reduced to the top personal income tax rate (35% in 2005). After repeal of the estate tax, carryover basis replaces step-up in basis for assets transferred at death. The legislation includes an exemption from carryover basis for capital gains of $1.3 million (and an additional $3 million for a surviving spouse). However, the estate tax provision in EGTRRA automatically sunsets December 31, 2010.

On August 5, 2004, the United States, Costa Rica, El Salvador, Guatemala, Honduras, Nicaragua, and the Dominican Republic signed the Dominican Republic- Central America-United States Free Trade Agreement, or the DR-CAFTA. The DR-CAFTA was negotiated as a regional agreement in which all parties would be subject to the “the same set of obligations and commitments,” but with each country defining its own separate schedules for market access. It is a comprehensive and reciprocal trade agreement, which distinguishes it from the unilateral preferential trade arrangement between the United States and these countries as part of the Caribbean Basin Initiative (CBI), as amended. It liberalizes trade in goods, services, government procurement, intellectual property, investment, and addresses labor and environment issues.

In 1994, 34 Western Hemisphere nations met at the first Summit of the Americas, envisioning a plan for completing a Free Trade Area of the Americas (FTAA) by January 1, 2005. Nine years later, the third draft text of the agreement was presented at the November 2003 Miami trade ministerial. The Ministerial Declaration, negotiated largely by the two co-chairs, Brazil and the United States, took the FTAA in a new direction, away from the comprehensive, single undertaking principle, toward a two-tier framework comprising a set of “common rights and obligations” for all countries, augmented by voluntary plurilateral arrangements with country benefits related to commitments. A follow-up meeting in early 2004 in Puebla, Mexico was unable to clarify this concept, highlighting the deep differences that remained between the United States and Brazil. FTAA talks subsequently stalled and the original January 1, 2005 deadline was missed. In the meantime, both Brazil and the United States are pursuing subregional trade pacts that may further complicate the negotiation process. Talks between Brazil and the United States may resume in early 2005, but it is still unclear if significant progress can be made on the FTAA this year.

The F-22A Raptor is a next-generation fighter/attack aircraft that features the latest stealth technology to reduce detection by radar. Using more advanced engines and avionics than the current F-15 Eagle, the F-22A is intended to maintain U.S. Air Force capabilities against more sophisticated enemy aircraft and air defenses in the 21st century. This report examines the Air Force’s F-22A Raptor program, including costs and schedule; considers several key issues, and concludes with a synopsis of recent legislative activity on the program.

This report provides brief facts and statistics about Social Security that are frequently requested by Members of Congress and their staffs. It includes information about Social Security taxes and benefits, the program’s impact on recipients’ incomes, federal tax receipts, federal spending and the economy, and administrative information.

This report discusses intelligence issues for Congress including coordination among intelligence agencies, terrorism, and Iraq. Updated June 3, 2005.

Update of previous report on Honduras' political and economic issues, as well as criticism and consequences that may arise from the United States intervening.

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This report provides information related to health insurance. The content includes what it is, why is it needed, health insurance regulation, and how are private health benefits delivered and financed.

A number of issues affecting U.S. agriculture could receive attention during the 109th Congress. Some are related to new initiatives or to unfinished legislation from the 108th Congress; others have been the focus of ongoing congressional oversight. Although the current (2002) farm bill (P.L. 107-171) generally does not expire until 2007, the agriculture committees could begin hearings on a new measure as early as 2005. The farm bill spells out the types and levels of benefits provided to producers and landowners under commodity price support and conservation programs, both of which could receive close scrutiny in the coming year as lawmakers seek ways to control federal spending. Other concerns include agroterrorism, food safety, and animal and plant diseases (e.g., “mad cow” disease); interest in multilateral and bilateral trade negotiations; the rising cost of energy on farms; environmental issues; and a number of agricultural marketing matters.

In response to the foreign challenge in the global marketplace, the United States Congress has explored ways to stimulate technological advancement in the private sector. The government has supported various efforts to promote cooperative research and development activities among industry, universities, and the federal R&D establishment designed to increase the competitiveness of American industry and to encourage the generation of new products, processes, and services. Among the issues before Congress are whether joint ventures contribute to industrial competitiveness and what role, if any, the government has in facilitating such arrangements.

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Most current U.S. nuclear warheads were built in the 1980s, and are being retained longer than was planned. Yet warheads deteriorate with age and must be maintained. The current approach monitors them for signs of aging. When problems are found, a Life Extension Program (LEP) rebuilds components. While some can be made to new specifications, a nuclear test moratorium bars that approach for critical components that would require a nuclear test. Instead, LEP rebuilds them as closely as possible to original specifications. Using this approach, the Secretaries of Defense and Energy have certified stockpile safety and reliability for the past nine years without nuclear testing.

In early 2004, the Senate Foreign Relations Committee, after hearings the previous October, unanimously recommended Senate advice and consent to U.S. adherence to the 1982 U.N. Convention on the Law of the Sea and the 1994 Agreement Relating to Implementation of Part XI of that Convention. The Senate, however, did not act on the Convention. CRS Issue Brief IB95010, The Law of the Sea Convention and U.S. Policy, serves as a basic CRS source for discussion of issues related to the United States and the Convention and Agreement, while this short report focuses on events and issues that have emerged since October 2003. It summarizes the Committee’s resolution of advice and consent and presents some of the issues raised in support of and in opposition to U.S. adherence. This report will be updated periodically.