Obama Set to Propose Commerce & Trade Bureau Merger

President Obama is expected to announce a plan today to merge six federal agencies related to trade and commerce into a single department. The US Department of Commerce is the largest agency included in the merger, which also includes the Small Business Administration, the Office of the U.S. Trade Representative, the Export-Import Bank, the Overseas Private Investment Corporation, and the Trade and Development Agency.

The president needs Congressional approval for such a move, and he is likely to ask for fast-track approval in order to get a vote on the proposal within 90 days.

Some agencies of the Commerce Department, like the Census Bureau and the National Oceanic and Atmospheric Administration (NOAA) may have to be moved to different departments, which could delay implementation of the proposal.

Up to 2,000 federal jobs would be lost through attrition, and the proposal is expected to save about $3 billion over 10 years.