Hi everyone, welcome back to Fiscal Friday. This is Bess Byers with A Generation Empowered. Today we’re talking TPP, and I'm not talking toilet paper politics. The Trans-Pacific Partnership is shady legislation, best suited to wipe your bottom. So today we’re talking TPP, TAA, TPA and fast-track.
TPP is a top-secret, controversial “free trade” agreement pushed by big corporations. With bipartisan support to backstab Americans, this 29-chapter trade bill involves the US and 11 other countries - Australia, Brunei, Canada, Chile, Japan, Malaysia, Mexico, New Zealand, Peru, Singapore and Vietnam. TPP expands the North American Free Trade Agreement, also known as NAFTA, which resulted in multi-billion dollar trade deficits, a net loss of nearly 5 million manufacturing jobs and 57,000 factories, flat median wages and stagnant food exports.
So why would we want to replicate NAFTA with TPP? Oh yeah… Corporations.
Corporations openly supporting TPP include: 3M, Aflac, American Apparel, Apple, Boeing, Chevron, Caterpillar, Citigroup, Coca Cola, Conoco Phillips, The Walt Disney Company, EBay, Facebook, FedEx, Exxon Mobil, Fluor, Gap, GE, GM, GlaxoSmithKline, Goldman Sachs, Halliburton, Herbalife, Hewlett-Packard, IBM, Intel, JC Penny, John Deere, Johnson & Johnson, Kraft Foods, Microsoft, Morgan Stanley, Motion Picture Association of America, Nike, Oracle, Pfizer, Philip Morris International, Proctor & Gamble, Target, Toyota, Time Warner, UPS, Viacom, Visa, Wal-Mart and Xerox. Copy that to your Facebook wall.
FEC data shows corporations supporting TPP donated over $1.1 million to Senate campaigns between January and March 2015, with the average Republican receiving over $19,000 and Dems averaging slightly under $10k.
With every action, there’s a reaction, and lousy legislation is no exception. Luckily politicians have a plan to solve this created crisis. It’s called TAA, or Trade Adjustment Assistance. It’s a federal program to reduce the damaging impact of imports felt by certain sectors of the economy. So politicians not only ship our jobs overseas, they force American taxpayers to fund it.
Fast track, also called Trade Promotion Authority or TPA, grants the president authority to skirt Congress and negotiate international trade agreements. Last Thursday the House quietly passed Fast-Track, while the media distracted you with another mass shooting.
Transnational companies can sue our government if food safety laws stand in the way of expected profits. TPP incentivizes off-shoring jobs by offering benefits to firms that relocate to low-wage nations. The new law protects banks from unregulated practices. It extends patents on medications, delaying generic, more affordable brands from entering the market. Most importantly, TPP impacts Internet freedom by imposing restrictions similar to SOPA (The Stop Online Piracy Act) and PIPA (Protect IP Act). That stinks!
If you disagree with TPP and toilet paper politics, call the White House. Make your voice heard. This is Bess Byers, signing off, and remember, it’s your generation and you’re empowered!