MANHATTAN: Momentum continues to build in Washington towards consideration of two key trade priorities: renewal of Trade Promotion Authority (TPA), and reauthorization of the Export-Import Bank (Ex-Im).
Your support is critical to getting these done, and the upcoming House Congressional Recess the week of May 4 is a great time to weigh in.
In a banner week for the U.S. trade agenda, the Senate Committee on Finance and the House Committee on Ways and Means held hearings and markups last week for the Bipartisan Congressional Trade Priorities and Accountability Act of 2015, which will renew TPA. The Chamber strongly supports the bill, which was introduced on April 16 by Senate Finance Committee Chairman Orrin Hatch (R-UT), Ranking Member Ron Wyden (D-OR) and House Ways and Means Chairman Paul Ryan (R-WI). The House and Senate are working out the details of the bills over the next few weeks and we expect to see a vote before the Memorial Day recess.
On Ex-Im,the US Chamber of Commerce continue to urge all Senators to co-sponsor the bipartisan Senate Ex-Im bill that was introduced by a group of eight Senators (Mark Kirk, Heidi Heitkamp, Lindsey Graham, Joe Manchin, Roy Blunt, Joe Donnelly, Kelly Ayotte, and Mark Warner) titled S. 819, the “Export-Import Bank Reform and Reauthorization Act.” In the House, GOP-and-Democrat sponsored bills have garnered majority support in the form of co-sponsorships (260 to date between both bills), backing up the notion that if Financial Services Committee Chairman Jeb Hensarling, an outspoken critic of Ex-Im, agrees to move a bill through his committee, there is majority bipartisan support to reauthorize the bank.
This year World Trade Month — which is celebrated every May — comes just as Congress takes up these major trade bills. Since the first World Trade Week was proclaimed eighty years ago, organizations across the country to organize events reaffirming America’s interest in seizing international business opportunities to generate growth and jobs. The U.S. Chamber is working with many state and local chambers across the country that are hosting events in the month ahead to ensure the progress on trade in Washington is being met with voices from every city and state giving support to their member of congress for these initiatives.
The US Chamber of Commerce encourage you to use every opportunity to reach out to your members of congress to urge them to support renewal of TPA and reauthorization of the Ex-Im Bank.
