Alcee Hastings: “Fast Track trade authority is an extraordinary concession of congressional authority in four critical areas to regulate…”

“Fast Track trade authority is an extraordinary concession of congressional authority in four critical areas to regulate and oversee the terms of trade. One vote, 62 pages, no amendments, 2 hours of debate. Now, if the United States had a successful trade policy giving this President, or any President, a blank check to perpetuate and expand NAFTA into the FTAA and enhance the powers of WTO, well, that might make some sense. But the current system is failing miserably. We are not talking about that here on the floor today, are we? Last year a record $435 billion trade deficit, 4.5 percent of our GDP. Many economists say that is unsustainable. 1994 to 2000, accelerated job loss due to trade. The current system discriminates against American labor, reduces living wages, safe working conditions, eviscerates environmental protections and consumer protections. But the gentleman from New York would somehow say it is necessary to compete in the world economy. President Clinton negotiated 300 separate trade agreements: two under Fast Track trade authority, 298 without it. And, unlike my colleague from the other side who preceded me and said he opposed this under the last President but will vote for it now, I am going to vote on policy and principle, not politics and personalities.”