Thank you for the opportunity to express my strong support for passing Trade Promotion Authority this year. The fact that so many fine institutions have gathered here today in support of TPA is a testament to the importance of this issue to our economic future and our ability to lead abroad.
International trade has long been one of the most important foreign policy and economic tools in our arsenal. It was a key component of our post-World War II international economic strategy. For over 50 years international trade contributed to stability and economic growth throughout the world. It helped to lift the nations of Europe and Asia out of the ashes of World War II. And it helped America experience unprecedented prosperity here at home.
International trade can play a similar role at the beginning of the 21st century. But the United States must have the tools to lead. That is why I strongly support passing Trade Promotion Authority this year.
Trade Promotion Authority represents a partnership between the executive and legislative branches of government. It provides the President with Congressional support so he can negotiate the best trade agreements for America's workers. It provides certainty to our trading partners that any agreement reached will get timely consideration and will not be ripped apart by the U.S. Congress. In exchange for the authority to negotiating, Congress requires intense consultation and notification procedures. It provides a legislative check on the President's ability to negotiate. And, it provides greater certainty to Congress that its intent is being followed.
Some argue that this authority is unprecedented. It is not. It is a tool which the United States has used to lead the world for much of the past 50 years. It is a tool which has served us well. And it is a tool which we need more than ever in these uncertain times.
I will continue to work to get TPA passed this year. There is already a bipartisan bill introduced in the Senate by my colleagues Senators Graham and Murkowski. This is a good bill which deserves support. I am also encouraged by progress in the House where outlines of a bipartisan compromise were released early this week. I hope we can see further progress in the House in the very near future. There is no doubt about it. Passing TPA this year would send a loud signal to the world. It will let the world know today that the United States is ready, willing and able to lead. It is time for Congress to roll up its sleeves, and get this done.