R.I.P. Trade Promotion Authority (TomPaine.com)

[marmar]

R.I.P. Trade Promotion Authority
Thomas I. Palley
May 21, 2007



Thomas Palley runs the Economics for Democratic and Open Societies Project. He is the author of Plenty of Nothing: The Downsizing of the American Dream and the Case for Structural Keynesianism. His weekly economic policy blog is at www.thomaspalley.com.

The trade promotion authority (TPA)—formerly known as fast-track negotiating authority—is set to expire on June 30, 2007. As a result, the Bush administration and business interests are now lobbying Congress for its renewal. However, there are strong reasons to not just let TPA temporarily lapse, but also to permanently bury it.

After the November 2006 elections giving Democrats control of Congress, renewal of TPA appeared unlikely owing to the high degree of distrust and animosity toward the Bush administration. Now, with Democrats and the administration agreeing to include formal language on labor and environmental standards in the Peru and Panama free trade agreements, some are arguing for extending this newfound cooperation to renewal of TPA. That would be a serious mistake.

Not only would TPA renewal betray voters who no longer support the administration, it would also miss a major opportunity to begin correcting course on globalization. Behind today’s flawed globalization lies a profoundly flawed policy process, and TPA is at the heart of that process.

The constitution gives Congress the right to decide upon trade relations with other countries. TPA has Congress ceding part of those rights by giving the president power to negotiate trade agreements that Congress can approve or disapprove but cannot amend or filibuster.

Opponents of TPA renewal have focused on two arguments. One argument is that such ceding of constitutional power is inappropriate, and Congress should reclaim this power as part of restoring a more balanced relationship between the legislative and executive branches. ......(more)

The complete piece is at: http://www.tompaine.com/articles/2007/05/21/rip_trade_promotion_authority.php

[Rydz777]

1. There are two things that I hope the Democratic Congress is

absolutely firm on: (1) stopping the war NOW with timelines, and (2) denying renewal and stopping any more fast track authority.