Rand Paul: “today, the House is asked to vote to approve H.R. 2621, a fast-track procedure under which international agreements…”

“today, the House is asked to vote to approve H.R. 2621, a fast-track procedure under which international agreements might be approved as far into the future as October 1, 2005. The ``fast track'' procedure requires the President to submit draft international agreements, implementing legislation, and a statement of administrative action for congressional approval. Amendments to the legislation in Congress are not permitted once the bill is introduced and committee and floor action votes may consist only of ``yes'' or ``no'' votes on any potential agreement as it is introduced. The fast-track procedure bill, in addition to creating an extra-constitutional procedure by which international agreements become ratified, sets general international economic policy objectives, re-authorizes ``Trade Adjustment Assistance'' welfare for workers who lose their jobs and for businesses which fail, and creates a new permanent position of Chief Agriculture Negotiator within the office of the United States Trade representative. The bill would reestablish the President's extra-constitutional ``executive authority'' to negotiate ``side agreements'' such as those dealing with environmental and labor issues. Lastly, the bill ``pays'' the government's ``cost'' of free trade by increasing taxes on a number of businesses which recently benefitted by a favorable judgment in federal tax court.”