The TPP ... closer to the fast track and approval

[gpatt0n]

The above video is from a citizens/Internet group thatopposes the TPP and the idea of fast-track approval forthe agreement which was favorably passed out of committeeyesterday.    FromThe Hill:   The Senate Finance Committee on Wednesday approved a billthat would streamline passage of global trade dealsthrough Congress.    The panel approved, on a 20-6 vote, a long-awaitedtrade promotion authority (TPA) measure with the supportof seven Democrats, sending the measure to the Senatefloor, where it will face another tough test in the comingweeks.    The Democrats who voted to approve were Sens. Ron Wyden(Ore.), Maria Cantwell (Wash.), Ben Cardin (Md.), BillNelson (Fla.), Tom Carper (Del.), Mark Warner (Va.) andMichael Bennet (Colo.).   The lone Republican to oppose was Sen. Richard Burr(N.C.).   In the most contentious vote of the day, Sens. RobPortman (R-Ohio) and Debbie Stabenow (D-Mich.) lost theirbid — on an 11-15 vote — to include an amendment in thelegislation that would have required the White House toinclude enforceable currency manipulation provisions ininternational trade agreements.    Five Democrats — Cantwell, Nelson,Carper, Bennet and Warner — and 10 Republicans opposedthe amendment.   Portman, a former U.S. traderepresentative, said the amendment was needed becausethe “playing field is tilted against us” and it would“allow our workers to compete.”   Stabenow argued the Obamaadministration’s process is “just not enough” toconvince countries to make faster progress towardmarket-driven exchange rates.     After markup, Portman said he will makeanother attempt at passing the rule in floor debate.   The White House has argued that requiringthe addition of currency provisions would derailnegotiations on the Trans-Pacific Partnership (TPP)and likely jeopardize its passage in Congress.    A Treasury official told the panel thedepartment is “very concerned” adding currency rulesto a fast-track measure would be counterproductive andpossibly disrupt continuing negotiations.    “We have serious concerns about theinclusion of enforceable currency provisions in thisor any trade agreement,” Treasury Secretary Jack Lewtold the House Ways and Means Committee on Wednesdayafternoon.   Lew has repeatedly asked Congress totread lightly in pushing for provisions that could, inthe end, do more to hurt U.S. workers than help.   “Enforceable currency disciplines wouldimpair our already-successful efforts addressingcurrency practices through our bilateral andmultilateral engagement and could grant othercountries a legal basis to interfere with theflexibility of U.S. policymakers to take the stepsnecessary to protect jobs, support growth, and ensurecontinued price stability in the United States,” Lewsaid.     In a letter to senators Tuesday, Lew saidother trading partners “have made clear that they willnot support the introduction of enforceable currencyprovisions in the context of trade agreements, andspecifically, the TPP.”   Senate Finance Committee Chairman OrrinHatch (R-Utah) went as far as to say if the amendmentpasses, “you could kiss TPP goodbye.”   “We’ve come a long way, and while I knowthe sincerity behind it, I think it makes it verydifficult to carry this bill through,” Hatch said.   Wyden, the Senate Finance Committeeranking member, said the amendment runs the risk ofputting the United States on the side of creatingrules for global monetary policy and is “a bridge toofar.”    The contentious fast-track legislationhas splintered congressional Democrats and put them atodds with President Obama and his bid to push throughhis trade agenda before he leaves office.    The bill gives Congress an up-or-downvote on trade agreements and doesn’t allow amendments,a process that ensures trading partners that pactswon’t be changed on Capitol Hill.    The Obama administration says the12-nation TPP would shore up the U.S. economic andstrategic presence in the Pacific Rim.   “If you want to have influence in Asiayou have to pass this TPA bill to ensure that you geta good TPP,” Hatch said.   During the markup, Hatch warned lawmakers“to be careful not to amend” the six-year measure, soit wouldn’t differ from the version brokered last weekby Hatch, Wyden and House Ways and Means CommitteeChairman Paul Ryan (R-Wis.).    The Ways and Means Committee is slated tomark up the bill Thursday.    Thereis more to this at The Hill - a DC Internet web site thatcovers Capitol Hill.

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