Rokita: Trade is Good for Indiana and America

Press Release

Representative Todd Rokita helped lead passage of important trade legislation today, which paves the way for international free trade agreements that will create new, higher-paying jobs, yield faster economic growth, and solidify U.S. economic leadership on the world stage. Rep. Rokita made the following statement following passage of the Trade Priorities and Accountability Act of 2015:

"This legislation is about doing what is good for Indiana and America. International trade supports nearly 800,000 jobs in Indiana -- more than one in five. With 96 percent of our potential customers living outside of the U.S., and with American imports to emerging markets like Asia declining by nearly 45 percent in the last 15 years, it is time to lead and secure our place in these countries."

Rep. Rokita also addressed concerns with giving President Obama authority to negotiate new free trade agreements:

"President Obama has a dismal record of adhering to the rule of law and acting in the interest of Hoosiers. That is why I ensured this legislation has necessary guardrails to restrain the President's authority, retain Congressional oversight, and inject necessary transparency. This isn't a "fast track' bill; quite the opposite. It's slow track. This legislation puts the brakes on the White House by mandating a sixty day public review period for any new trade agreement. After the review period, Congress must vote on the agreement before it can move forward. This is significantly more transparency and accountability than we have ever had."

The Trade Priorities and Accountability Act of 2015 passed the House by a vote of 218-208. The bill directs the Administration to pursue 150 Congressionally-mandated negotiating objectives, establishes a transparent consultation and review process, and grants Congress the final word on approving trade agreements.

Trade impact on Indiana and America:

· Indiana exported more than $36 billion in goods in 2013, and more than $8 billion in services to customers in more than 200 countries.

· Indiana is a top ten state exporter of pharmaceuticals, motor vehicles, agricultural products, and steel products.

· More than 38 million American jobs depend on trade -- one out of every five jobs.

· Every $1 billion in increased exports creates 5,000 higher paying jobs across the country.

· The purchasing power attributed to imports saves the average American household $10,000 annually.

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