On June 10th, National Taxpayers Union participated in a press conference at the Capitol promoting Trade Promotion Authority (TPA) legislation that would provide a “fast-track” mechanism for critical trade deals. The press conference, hosted by our friends at Taxpayers Protection Alliance, featured a broad array of free-market organizations and Members of Congress who voiced their support for TPA.
At its core, TPA gives the president the authorization to negotiate international trade agreements that Congress then has the ability to approve or disapprove. Any trade agreement negotiated under the TPA must be made public for at least 60 days before taking affect. This time would grant both Congress and American taxpayers to truly understand the benefits or implications of each proposed agreement. At a time when jobs and economic growth are an ongoing problem, TPA would help put Americans back on track for success.
House Ways and Means Chairman Paul Ryan, the House co-sponsor of the bill, H.R. 1314, stated at the press conference “It is time for the United States to go back on the offense and get those jobs. This trade agreement will allow that, and that is why we’re doing this.”
He explained that TPA will promote job growth, expediting the consideration of trade deals that will increase economic opportunities for both companies and consumers. Free trade, a voluntary, mutually beneficial act, doesn’t just reduce tariffs – it opens the doors for American companies to discover and enter new marketplaces.
NTU Executive Vice President Brandon Arnold emphasized, “Trade is fundamentally about taxes. Trade is about lowering tariffs, which is just another word for taxes, tariffs that block our access to markets abroad, tariffs that raise the price of goods for consumers, that raise the price of business inputs – that makes it more difficult, more costly to manufacture here in our country . Trade is about taxes. Anyone who supports lower taxes should support TPA. If you vote against TPA, you’re effectively voting for higher taxes.”
David Williams, the president of Taxpayers Protection Alliance, added that if the TPA is not passed “the jobs lost will affect everyone regardless of political party.”
NTU strongly supports TPA and believes it is essential for economic prosperity.