Dick Durbin: “most people who are following this debate may be a little bit put off by some of the initials that we use around…”

“most people who are following this debate may be a little bit put off by some of the initials that we use around here--TPP, TPA, TAA. What is it all about? It is about a trade agreement. It involves a dozen countries, including the United States. Most of them are in Asia. We are preparing to discuss and debate it, and that trade agreement is known as the Trans-Pacific Partnership, or TPP. I think that is what that stands for. I will correct the record if I am wrong on that. But before we get to the trade agreement, we have to decide how we are going to consider it, and that is known as TPA, trade promotion authority, or fast track. The question is whether the Senate will agree that we cannot amend the trade agreement--no amendments--and that it is a simple majority vote. That is what is known as fast track. Virtually every President in modern time has had that authority. It has expired, and now it has to be recreated by a vote on the floor. What we are anticipating this afternoon is whether we go to the arguments about these various issues, and the uncertainty is what leads my friend from Utah, Senator Hatch, to come to the floor. The uncertainty from our side is this: How are we going to consider this? Four bills came out of the Finance Committee related to trade. How are they going to be brought to the floor? Are they going to be part of one package? Are they separate votes? Which one will come out of the Senate? Will more than one come out of the Senate?…”