House Continues Aggressive Jobs Push By Passing Free Trade Agreements

Statement

The House of Representatives has been working hard to address our nation's unemployment and economic crisis. Just yesterday, we passed three free trade agreements with Colombia, Panama, and South Korea, which I was pleased to support. These pacts will create an estimated 250,000 jobs in the U.S. and will expand market access for U.S. goods and services.

So why are these agreements necessary? To start, trade is a vital component of U.S. economic success. With 42 percent of all U.S. jobs connected to trade--our nation must act competitively to ensure our share in the marketplace. For every $1 billion in exports, 25,000 new jobs are generated in all sectors of the economy--a boost our country desperately needs.

In addition, free trade agreements are a great way to boost jobs without ANY government spending. At a time when we must cut our deficit and get serious about implementing a Balanced Budget Amendment, these pacts have the potential to add almost $10 billion to our GDP.

I am pleased that my colleagues in the House and Senate were able to join together and pass these initiatives to spur economic growth. It is my hope that these pacts will increase opportunities and create a level playing field for U.S. exporters, while strengthening our foreign relationships.

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