News

Senate committee takes up TPA

grassley-chuckThe Senate Finance Committee is holding a markup session today for legislation that would renew the president’s trade promotion authority (TPA).  The bill is seen as a necessary step toward concluding two major free trade agreements.

Currency manipulation is one of the issues being discussed. Iowa Senator Chuck Grassley says he will introduce an amendment strengthening the currency manipulation language in the bill.

“While I support free trade, I also oppose countries tilting the field in their favor by intentionally undervaluing their currency to make their export goods cheaper in the world market,” Grassley says.

Grassley thinks the TPA bill will pass out of committee, but he says its prospects after that are, in his words, “touch and go”.

“I think it will pass the Senate, but it’s got to have 60 votes at some point—and I think it’s going to take a fight to get those 60 votes,” he says. “Yet I think it has a better chance of passing the Senate than it does the House of Representatives, because (Speaker) Boehner says he’ll probably lose 50 Republicans over there.”

Strong opposition from Democrats in Congress is also seen as a major obstacle to passage of TPA.

AUDIO: Excerpts from Senator Grassley’s 4/22 conference call with ag reporters

Add Comment

Your email address will not be published.


 

Stay Up to Date

Subscribe for our newsletter today and receive relevant news straight to your inbox!