President Obama Pushes for TPA, Says Healthcare Law Helping to Increase Exports
The U.S. export business community currently sells more goods overseas than throughout history partially because of stabilized health care costs produced by the Affordable Care Act, President Barack Obama said on Sept. 19 during a ceremony to appoint seven new members to the administration’s Export Council (see 13091915). Obama also urged lawmakers to pass Trade Promotion Authority legislation.
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The June $190 billion of U.S. goods and services exports is the highest registered U.S. monthly figure (here). The Affordable Care Act passed Congress and was signed by President Obama in 2009 (here). “A lot of what we’ve done is starting to bear real fruit, and it has an impact on the bottom lines of American businesses as well as the American people,” said Obama. “So if the current trends hold, and all estimates are that, in fact, they will -- this is not just a byproduct of or hangover from the recession -- we’re going to see a continuing slowing of increases in health care costs. That’s going to boost our exports.” The Trans-Pacific Partnership and Transatlantic Trade and Investment Partnership trade pacts will also help the U.S. export community by increasing market access, raising standards and providing intellectual property protections, the president said.
Lawmakers should pass Trade Promotion Authority prior to bringing those pacts to Congress, Obama added, echoing the calls of U.S. trade officials (see 13091118). “We’re going to need trade promotion authority through Congress. And this is an area where, so far at least, Mitch McConnell says he’s for it, and that’s good,” said Obama, referring to the Republican Senate majority leader. “And so we may be able to get some good bipartisan support to get that done." The President’s Export Council is comprised of up to 28 members of the private sector, five U.S. Senators, five member of the House, along with other elected and appointed nationwide officials (here).
Email ITTNews@warren-news.com for a copy of the press release.