Trade Promotion Authority (TPA) vote in U.S. House on Thursday is vital for taxpayers and economy.
WASHINGTON – The U.S. House of Representatives on Thursday will vote on the most important tax cut of the next decade – and it\’s not the much-anticipated economic stimulus package.
The vote is whether to give the President trade promotion authority (TPA), formerly known as "fast track." TPA was granted to each of America\’s past five Presidents, and allows trade negotiators to hammer out trade agreements with other nations. Congress can then vote "up or down" on the agreement, accepting or rejecting – but not amending – the negotiations, which ensures that negotiators will strike agreements that have broad political and public support, and are not tailored to special interests requests.
"This is by far the most important vote of the Bush Administration," said taxpayer advocate Grover Norquist, who heads Americans for Tax Reform in Washington, DC. "TPA is the most significant tax cut legislation of the decade. If successful, it will create millions of jobs, boost the financial markets, secure democratic governments throughout the Western Hemisphere, reduce the pressures of mass immigration, and give the president a powerful tool to reward those nations who support us in the fight against terrorism and punish those who are slow to aid us."
Each of the past five American presidents were given TPA, but the measure expired during President Clinton\’s second term. TPA is especially vital now, because out of the 130 free trade agreements across the globe, America is a partner in only three. Those are with Israel, Jordan, and NAFTA.
"Tariffs are taxes," continued Norquist, "an invisible tax on all consumers. And with 880 million South American consumers begging to buy American goods, but inhibited due to tariffs in their countries, this legislation is the greatest economic stimulus we can ask for."
"American businesses and workers are the best in the world, and we can compete in any market across the globe. TPA will enable the creation of a hemispheric market stretching from the Bering Strait to the Tierra del Fuego – the greatest free trade zone in the history of civilization. The globalization of the American economy demands passage of this important legislation on Thursday," he concluded.