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Focus on Regulation

New Trade Promotion Authority Bill Increases Prospects for Significant Trade Deals With the Pacific Region and Europe

After months of behind-the-scenes negotiations, on April 16, 2015, Senate Finance Committee Chairman Orrin Hatch (R-Utah), Finance Committee Ranking Member Ron Wyden (D-Ore.), and House Ways and Means Committee Chairman Paul Ryan (R-Wis.) introduced legislation, S. 995 and H.R. 1890, to restore trade promotion authority (TPA). The TPA bill provides the administration with negotiating objectives for future trade agreements and allows it to submit implementing legislation for the final agreement to Congress for an up-or-down vote without amendments. The Senate Finance Committee has now announced it will hold a mark-up of the bill on April 22. The House Ways and Means Committee has announced a hearing on the bill for the same day.

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