Congress to decide on Fast-Track Authority

Manufacturing News, Source : TheManufacturer.com
Published : 29 Jul 2002 21:30

With the long-awaited vote almost at hand, President Bush appeared before Congress to ask for the Trade Promotion Authority (TPA) to be granted, stating that increased trade will provide more jobs and improve the economy.

If passed, the President would have the power to draft and negotiate trade deals, allowing Congress only a yay/nay vote.

“For nearly 10 years, America has lacked Trade Promotion Authority and the ability to fully take advantage of trade opportunities,” said President Bush in a statement on July 27, 2002. “I commend the House and Senate conferees for their leadership in reaching a landmark agreement on TPA, which will open markets, expand opportunity, and create jobs for American workers and farmers. The House has shown a commitment to getting something done on behalf of the American people, and I urge the Senate to vote on this good bill before the Senate goes home for the August recess.”

The labor provisions of the bill have been a continuing controversy for all involved parties. After much revision, the bill now covers workers who lose their jobs to foreign competition and will provide 65% of health insurance costs for displaced workers. Labor groups are not satisfied, however, claiming that it will hurt workers without helping the economy, according to John Sweeney, president of AFLCIO.

In contrast, the technology market is improving at a much faster rate internationally, and Harris Miller, president of the Information Technology Association of America commented that ailing US companies can only join in if the TPA is passed.

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