WASHINGTON – U.S. Senators Bob Menendez (D-N.J.) and Jim Risch (R-Idaho), Chairman and Ranking Member of the Senate Foreign Relations Committee, today introduced the Innovation and Development in Ecuador (IDEA) Act , legislation to make Ecuador eligible for designation as a beneficiary country under the Caribbean Basin Economic Recovery Act.
“Building on my U.S.-Ecuador partnership, which was signed into law in December, this new legislation will further expand the economic and commercial ties between our two countries,” said Chairman Menendez. “With this new bill, the United States is deepening its partnership with a key democratic partner in the Americas and creating the conditions for inclusive economic growth in both countries.”
“Ecuador is facing a number of crises, including illegal immigration, pressure from China, and violence from Mexican drug cartels,” said Ranking Member Risch. “My new legislation would help Ecuador address these threats by promoting private sector job creation so Ecuadorians have greater economic mobility at home.”
This legislation would:
Text of the IDEA Act can be found here.