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Congress Jul 2015 - "Congress at Work: Where's the Beef, Trade Complexities, and Intelligent Spending"

Congress Jul 2015 - "Congress at Work: Where's the Beef, Trade Complexities, and Intelligent Spending"

Congress Jul 2015 - "Congress at Work: Where's the Beef, Trade Complexities, and Intelligent Spending"

Excerpt


 


Congress at Work: Where's the Beef, Trade Complexities, and Intelligent Spending



Trade Act of 2015 (H.R. 1314) – To date, this controversial bill was passed in both the House and the Senate, but the Senate made changes and sent it back to the House on May 22. The Senate combined the Trade Promotion Authority (TPA) and the Trade Adjustment Assistance (TAA) into the same bill. The TPA would grant the President the authority to enter into trade agreements with foreign nations, and enable Congress to “fast-track” trade deals with a simple up-or-down vote. The TAA would provide benefits for workers and firms that are negatively affected by trade agreements. In the past, these two components combined pacified both sides of the political fence, as the TPA leads to new trade agreements and the TAA mitigates the effect of outsourcing. This time, however, the House passed the TPA but not the TAA – due to Democratic opposition – so the bill did not move forward on June 15. Although Democrats overwhelmingly support the TAA, they voted against it to tank the whole bill. The House separated the TPA into a separate bill and sent it back to the Senate.


 


 


 



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