November 20, 2015
What's Actually in the Trans Pacific Partnership?
On November 5, the White House released the text of the 5,544 page Trans Pacific Partnership (TPP) that President Obama had just finished negotiating under the FastTrack authority that Congress gave him. That trade pact can no longer be amended. The up-or-down votes in the House and Senate will take place as early as January 2016. So what’s in the TPP? Here’s a quick summary: A legislative body superior to Congress A vehicle to pass Obama’s climate change treaty Increased legal immigration Reduced patent protection for U.S. pharmaceuticals Quotas on U.S. agricultural exports Increased currency manipulation Reduced U.S. power That’s the summary. Here are the details. 1. A Legislative Body Superior to Congress It turns out that Senator Jeff Sessions was correct when he said that the treaty creates a new legislative body called the “Commission,” a term meant to invoke the European Commission, known for its recent...(Read Full Article)