[CTC] Senators Expect to Introduce ‘Fast Track’ Trade Bill Later Thursday

[Arthur Stamoulis]

http://www.wsj.com/articles/senators-expect-to-introduce-fast-track-trade-bill-later-thursday-1429196461 <http://www.wsj.com/articles/senators-expect-to-introduce-fast-track-trade-bill-later-thursday-1429196461>
 
 
Senators Expect to Introduce ‘Fast Track’ Trade Bill Later Thursday
Senators Wyden and Hatch say they are close to finishing bill that could pave way to major Pacific trade agreement
 
The Wall Street Journal
By William Mauldin
April 16, 2015
 
WASHINGTON—Top Senate lawmakers said they are ready to introduce long-delayed trade legislation Thursday that could pave the way for President Barack Obama <http://topics.wsj.com/person/O/Barack-Obama/4328> to conclude a major agreement with 11 nations around the Pacific.

Sen. Orrin Hatch (R., Utah) and Sen. Ron Wyden (D., Ore.) told a hearing of the Senate Finance Committee on Thursday they are close to finishing the key bill, known as “fast track” or Trade Promotion Authority, as well as related legislation that would move in parallel. The senators asked the committee to reconvene at 3 p.m. to consider the legislation when it is complete.

“We’re not quite there, but I hope and expect we will be very soon,” said Mr. Hatch, the chairman of the committee.

Mr. Wyden, the committee’s top Democrat, said, “I look forward to meeting again this afternoon to move ahead.”

By starting debate on the bill, with a committee vote expected in a week, lawmakers are escalating an already-bitter fight over what could become a key part of Mr. Obama’s legacy. Along with Japanese and other officials from Canada to Vietnam, Mr. Obama is seeking to open up the barriers that businesses face at the borders around the Pacific to spur economic growth and blunt China’s influence in the region, part of a strategic rebalancing toward Asia.

But labor leaders and top Democrats protested the measure Wednesday on Capitol Hill, and the fate is unclear in Congress. Most Democrats oppose it while most Republicans back the legislation, along with Mr. Obama.

If enacted, it would allow a completed Pacific trade deal and other trade agreements to pass Congress without amendments or procedural delays.

Opponents ranging from union leaders to some conservative Republicans and most Democratic lawmakers have rejected renewing the legislation, saying it would cede congressional authority to Mr. Obama or pave the way for a trade agreement they oppose.

The bill expected Thursday comes after months of contentious negotiations among Mr. Hatch, Mr. Wyden and Rep. Paul Ryan <http://topics.wsj.com/person/R/Paul-Ryan/6420> (R, Wis.). The public clashes between Sens. Hatch and Wyden delayed legislation that backers of free trade had hoped would clear the new Republican-led Congress earlier this year.

Mr. Wyden had sought changes in the bill that would appeal to more Democrats, and in the end Mr. Hatch agreed to let legislation known as trade adjustment assistance, popular among Democrats, move in parallel with the fast-track bill. The measure helps those whose jobs are displaced by international trade.

Lawmakers backing the legislation and business groups are seeking to get the fast-track bill passed before Congress’s next recess in May. That would allow trade ministers an opportunity to conclude a Trans-Pacific Partnership pact this spring that could come up for a final vote in Congress this year, before the height of the U.S. presidential campaign further complicates the politics of trade.

Progress toward passing the legislation could help U.S. and Japanese officials sew up a bilateral deal to be included in the broader Trans-Pacific Partnership, a step officials are seeking before Japanese Prime Minister Shinzo Abe visits later this month.

—Siobhan Hughes contributed to this article.

Write to William Mauldin at william.mauldin at wsj.com <https://mail.google.com/mail/?view=cm&fs=1&tf=1&to=william.mauldin@wsj.com>

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