A resolution expressing the sense of the Senate that there should be parity among the countries that are parties to the North American Free Trade Agreement with respect to the personal exemption allowance for merchandise purchased abroad by returning residents, and for other purposes.

Expresses the sense of the Senate that: (1) the United States Trade Representative (USTR) and the Secretary of the Treasury should initiate discussions with Mexican and Canadian Government officials to achieve parity by harmonizing the structure of the personal exemption allowance (for merchandise purchased abroad by returning residents) of the three North American Free Trade Agreement (NAFTA) countries at or above U.S. exemption levels; and (2) in the event that parity is not achieved within one year after enactment of this resolution, the USTR and the Secretary should submit recommendations to Congress on whether legislative changes are necessary to lower the U.S. personal exemption allowance to conform to the allowance levels established by the other NAFTA countries.