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Senate bill would end Cuba trade embargo

Senate bill would end Cuba trade embargo
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The longstanding Cuba trade embargo would end under new legislation in the Senate.

Sen. Amy KlobucharAmy KlobucharHouse unveils antitrust package to rein in tech giants Democrats reintroduce bill to create 'millionaires surtax' Senate Democrats befuddled by Joe Manchin MORE (D-Minn.), along with a bipartisan group of lawmakers, introduced a bill Thursday that would pave a way for American companies to do business in Cuba.

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The Freedom to Export to Cuba Act would strike down decades-old laws that prohibit U.S. businesses from trading with or operating in Cuba.

“It’s time to turn the page on our Cuba policy,” Klobuchar said. “Fifty years of the embargo has not secured our interests in Cuba and has disadvantaged American businesses by restricting commerce with a market of 11 million people just 90 miles from our shores.”

“There are many issues in our relationship with Cuba that must be addressed, but this legislation to lift the embargo will begin to open up new opportunities for American companies, boost job creation and exports, and help improve the quality of life for the Cuban people,” she added.

The Obama administration is easing trade and travel restrictions that have kept most Americans out of Cuba since 1961, but only Congress can completely do away with the embargo.

President Obama called on Congress to repeal the Cuba trade embargo during his State of the Union address.

Klobuchar’s bill would remove the restrictions on American companies doing business in Cuba, but a separate Senate bill would address the travel ban.

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