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IPFS News Link • Free Trade

House Kills Fast-Track Of Obamatrade After Pelosi-Led Democrat Rebellion

• zerohedge.com

Following Pelosi's comments that "its defeat is the only way we will be able to slow down fast track," and "people would rather have a job than assistance", the defeat of a measure to provide aid to workers displaced by trade deals means the fast-tracking of the TPP is done (for now).

*HOUSE HAS ENOUGH VOTES TO DEFEAT TRADE BILL

And with a whopping 302 votes against, House democrats just stunned the democrat president by ending the "fast-track" of the TPP and forcing it back to the drawing room table. As the NYT puts it:

House Democrats rebuffed a dramatic personal appeal from President Obama on Friday, torpedoing his ambitious push to expand his trade negotiating power — and, quite likely, his chance to secure a legacy-defining trade accord spanning the Pacific Ocean.

Of course this can all go back for another markup and another amendment but for now. TPP needs the passage of the TAA to send the bill back to Obama for his signature, which means we are back to square one.


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