Rep. Young Statement on Ways and Means Passage of Trade Promotion Authority, African Trade Preferences

Press Release

On Thursday evening, the House Ways and Means passed H.R. 1890, the Bipartisan Congressional Trade Priorities and Accountability Act, a bill that would grant trade promotion authority (TPA) to the Obama administration as they negotiate two major trade deals. TPA allows Congress to set negotiating priorities and parameters, and negotiated trade deals that stay within those parameters will be voted on by Congress under an expedited timeline.

Rep. Todd Young (R-IN9) released the following statement about the bill's passage:

"Consummating the pending trade deals, both with Pacific nations and with the European Union, should be a priority for anyone looking to strengthen our economy. We know those deals will only pass with TPA in place, and so I'm glad to see the Committee overwhelmingly approve this bipartisan legislation today."

"This process, used by every President since Franklin Roosevelt, allows legislature to assert its Constitutional authority in approving trade deals while respecting the prerogative of the executive branch to negotiate them. With over 95% of the world's consumers outside the U.S., this gets us one step closer to opening foreign markets for Indiana's manufactured goods, agricultural products, and various services."

The Senate Finance Committee passed similar legislation on Wednesday evening, and the full House and Senate are expected to vote on the measures in coming weeks. Young also released a video explaining TPA earlier this week at https://www.youtube.com/watch?v=91UD-eezuao.

Earlier on Thursday, by voice vote the committee passed H.R. 1891, which would extend the African Growth and Opportunity Act (AGOA), among other things. While not a full-fledged trade deal, AGOA does extend some preferential trade policies to many African nations. Young has been involved with the legislative effort to extend the trade preferences and represented the Ways and Means Committee at a summit of African leaders in Washington last summer. He delivered an opening statement on the bill today, which read in part:

"This ten-year extension provides for the long-term development of sub-Saharan African and will be vital to cultivating investments in the region, and thereby create jobs throughout Africa as well as at home here in the United States. I am confident that the significant reforms this Committee crafted on a bipartisan basis will encourage African countries to more effectively utilize the benefits provided within this program. Importantly, the bill provides improved transparency to beneficiary countries and ensures predictable notification timelines should countries fall out of compliance with fair trade practices."

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