More than 20 years after the USSR collapsed, Congress has finally repealed the 1974 Jackson-Vanik amendment limiting trade with the Soviet Union and its successor states. The Russia and Moldova Jackson-Vanik Repeal Act of 2012 grants Russian permanent normal trade relations status. It passed the U.S. House by 365 votes to 43 last month and passed the Senate by 92 votes to 4 yesterday.
All seven Iowans in Congress voted for this bill, which should increase food and agriculture-related exports to Russia. The Obama administration and several business advocacy groups also supported the measure.
After the jump I’ve enclosed statements on this bill from Representative Steve King and Senator Chuck Grassley.
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