PoliticalNews.me - Jan 19,2014 - Baucus Unveils Bill to Bring Home Job-Creating Trade Agreements
Bipartisan Bill Will Deliver Trade Deals that Boost Montana Exports, Create Jobs
Montana's senior U.S. Senator and chairman of the Senate Finance Committee, Max Baucus, introduced bipartisan legislation that will help boost Montana exports and create American jobs. The new trade bill will establish strong rules for trade negotiations and Congressional approval of trade pacts to deliver trade agreements. Senator Baucus introduced the legislation with Senate Finance Committee Ranking Member Senator Orrin Hatch (R-Utah) and Chairman of the House Ways and Means Committee Congressman Dave Camp (R-MI).
The Bipartisan Congressional Trade Priorities Act of 2014 (TPA-2014) has bipartisan, bicameral support and is designed to modernize trade promotion authority which expired in 2007.
"This bipartisan legislation will make sure that these trade deals get done, and get done right. Farmers, ranchers, workers and small business owners rely on trade to send their world-class Montana products around the globe creating good-paying jobs here at home and strengthening our economy," Baucus said.
"Montana businesses rely on trade to expand their markets and hire more workers. This is an important step to clear the way for trade agreements that hold great promise for Montana's economy and we applaud Max for his leadership on these critical pieces of trade legislation," said Webb Brown, Montana Chamber President and CEO.
TPA-2014 establishes 21st century Congressional negotiating objectives and rules for the Administration to follow when engaged in trade talks, including strict requirements for Congressional consultations and access to information. Provided the Administration follows the rules, special procedures apply when moving a negotiated deal that satisfies the objectives through the Senate and House of Representatives.
Senators Baucus and Hatch and Congressman Camp called TPA-2014 a "vital tool" as the U.S. continues Trans-Pacific Partnership (TPP) negotiations as well as free trade agreement talks with the European Union (EU). The two trade deals offer the U.S. landmark opportunities to boost exports.
By the Numbers: Montana Trade with TPP countries
◾Montana exports nearly $1.5 billion in goods and services to TPP countries
◾TPP countries supported an estimated 51,000 jobs in Montana.
◾45% of Montana goods exports are bound for TPP countries
By the Numbers: Montana Trade with European Union
◾The E.U. is Montana's 3rd largest export partner.
◾Montana exported $206 million in goods to E.U. 2011.
TPA-2014 strengthens oversight by Congress and the public and increase transparency by adding consultation and reporting requirements. TPA-2014 also provides for tougher, enforceable rules against barriers to U.S. agriculture and updates provisions related to the environment and labor issues.