Chuck Grassley: “on July 10, the Senate passed an amendment to S. 925, the Foreign Relations Authorization Act, to authorize $100 million…”

“on July 10, the Senate passed an amendment to S. 925, the Foreign Relations Authorization Act, to authorize $100 million for rural development programs in Mexico. This amendment authorizes funding for programs to promote microcredit lending, to promote small business and entrepreneurial development, to aid small farms impacted by the collapse of coffee prices, and to strengthen private property ownership in rural communities. I understand why Senator Reid offered this amendment. Mexico is important to the United States, and it deserves our attention. But I voted against this amendment. Let me explain why. A better way to improve Mexico's economy, including its rural economy, is not through foreign assistance from the United States, but through trade. As recently noted by the Ambassador of Mexico to the United States, Mexico has been transformed in recent years through trade liberalization, and in particular through the NAFTA.”