Economy
ABSOLUTE TREACHERY: US House Passes TPP Fast Track Bill
from RT:
The US House has passed Trade Promotion Authority bill that boost presidential authority in negotiating trade deals. This version of the legislation is not linked to any other bill.
It was passed around noon today with a vote of 218-208.
The sister legislation to the TPA, the Trade Adjustment Assistance (TAA), would provide assistance to workers who lose jobs as a consequence of the trade deals and foreign competition. It was easily defeated in the House last week. Initially lawmakers were set to vote once again on the TAA this week, but on Thursday they agreed to vote again on standalone TPA. Though the TPA and the TAA were passed the Senate, the TPA will now return to the Senate in its standalone form.
Obama has requested “fast-track” authority to negotiate the Trans-Pacific Partnership (TPP) and the Transatlantic Trade and Investment Partnership (TTiP) deals. Republican lawmakers back both initiatives, but the President’s own party is opposed.
The vote was split along partisan lines, with Republicans overwhelmingly voting in favor at 190-50, and Democrats being strongly against with a 28-158.
The sister legislation to the TPA, the Trade Adjustment Assistance (TAA), would provide assistance to workers who lose jobs as a consequence of the trade deals and foreign competition. It was easily defeated in the House last week. Initially lawmakers were set to vote once again on the TAA this week, but on Thursday they agreed to vote again on standalone TPA. Though the TPA and the TAA were passed the Senate, the TPA will now return to the Senate in its standalone form favored by Republicans.
