Passage of the Bipartisan Congressional Trade Priorities and Accountability Act of 2015

This past week, the AAPA, the American Association of Port Authorities applauded the U.S. Senate for passing the Bipartisan Congressional Trade Priorities and Accountability Act of 2015.  The bill was introduced by Senate Finance Committee Chairman Orrin Hatch among others.  The legislation was introduced on April 16,2015.  It essentially permits the White House to keep pursuing trade deals and allows Congress to vote on the treaties.  For example, such trade deals as the Trans Pacific Partnership (TPP) and the Transatlantic Trade and Investment Partnership (T-Tip).  The bill goes on to create negotiating objective for Congress and to consider trade agreements.

Trade in seaports is a vital component to the U.S. economy.  In fact, it is responsible for twenty-six percent of the economy.  Not to mention the 23 million jobs it creates for Americans.  The tax revenues are $320 billion for local, state and federal revenues.

The president of the AAPA, Kurt Nagle said “…this legislation will open the door to new markets for American goods and services, boost U.S. economic growth and support well-paying jobs nationwide.”

The passage of this bill will lead to opportunities for U.S. exporters and for the millions of American workers who rely on the trade industry for employment.  It will further empower business to bring more paying jobs here.  America will have a strong say in mapping out the rules of the road when it comes to global trade market.