“Fast-track” trade bill passes Senate hurdle

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Posted by  ▪  May 21, 2015 at 7:20pm

Long way to go

US_Capitol_South

“Fast-track” trade bill passes Senate hurdle

Posted by - 5/21/2015 at 7:20pm

Today, a procedural vote in the Senate put the Trade Promotion Authority (TPA) legislation one step closer to passage. 13 Democrats and 49 Republicans voted to back the legislation, putting the chamber well over the 60 vote threshold to take the next steps toward sending the bill on to the House.

Still, the TPA and its backers aren’t out of the woods yet, and members of Congress still opposed to the deal are ready and waiting with amendments and tweaks that could halt progress on the bill’s passage.

But the path is not clear yet. Amendments could include controversial sanctions on trading partners that manipulate their currencies, a move opposed by the partners.

The White House has said it will veto the bill if lawmakers insist on penalties. It instead prefers a diplomatic approach to dissuade countries from deliberately weakening their currencies to make exports cheaper.

(more…)

 
 
 

 
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