Buchanan Praises Bipartisan Trade Bill
WASHINGTON -- U.S. Rep. Vern Buchanan, R-FL, a senior member of House Ways and Means Committee, applauded the introduction of bipartisan Trade Promotion Authority (TPA) legislation that strengthens Congress’ role in negotiating trade policy and is critical to advancing free trade agreements across the globe. Buchanan stressed the importance of passing TPA to expedite consideration of the Trans-Pacific Partnership (TPP) – a massive free trade deal between the United States, Japan and 10 other countries which account for 40% of global economic output.
“We cannot allow the United States to fall behind the rest of the world,” said Buchanan, a member of the Trade Subcommittee. “Increasing access to foreign markets is critical to growing the U.S. economy and creating good-paying jobs. This legislation represents a significant milestone that will help set the rules for a robust trade agenda. Also known as “fast-track” authority, TPA offers the ability to obtain an up-or-down vote on a trade agreement, which ensures that the U.S. maintains leverage in complex multi-nation negotiations. It also includes stringent transparency requirements that allow Congress and the American people to understand what an agreement would mean before a vote.
TPA expired in 2007 and is needed for the United States to successfully conclude free trade deals such as TPP and the Transatlantic Trade and Investment Partnership (T-TIP).
According to a recent report from the Business Roundtable, trade is responsible for 2.4 million jobs and exports totaling $96.4 billion in Florida.
"Increasingly, international trade is one of Florida’s top strategies for economic diversification and long-term growth. Leveraging and growing trade opportunities that build bridges to more markets for 'Made in Florida' products and services around the world is essential," said Mark Wilson, President and CEO of the Florida Chamber of Commerce. "Free Trade Agreements help provide greater access to new markets for Florida exporters by reducing trade barriers. The renewal of Trade Promotion Authority is essential to our continued success as a global hub for trade.”
Buchanan traveled to Asia earlier this year to discuss the benefits of trade with world political and business leaders as part of a trade mission by House Ways and Means Committee Chairman Paul Ryan (R-WI)
Following the trade mission, Buchanan laid out the reasons why he strongly supports trade agreements in a column which appeared on CNBC.com