On the recordMay 19, 2015
Thank you, Mr. President. I want to start by saying thank you to Senator Brown for his extraordinary leadership on this issue and his determination that voices be heard around this country on this trade debate, that the people who are actually affected be heard from. I say thank you very much to Senator Brown for all he has done here. Amendment No. 1327 Mr. President, I join with Senator Heitkamp, Senator Manchin, and a number of other Senators to propose a simple change to the fast-track bill, a change that would prevent Congress from using this expedited process on any trade deal that includes so-called investor-state dispute settlement provisions. I come to the floor to urge my colleagues to support this amendment. ISDS is an obscure process that allows big companies to go to corporate-friendly arbitration panels that sit outside any court system in order to challenge laws they don't like. These panels can force taxpayers to write huge checks to those big corporations, with no need to file a suit in court, no appeals, and no judicial review. Most Americans don't think the minimum wage or antismoking regulations are trade barriers, but a foreign corporation used ISDS to sue Egypt after Egypt raised its minimum wage. Tobacco giant Philip Morris went after Australia and Uruguay to stop their rules to cut smoking rates. Under the TPP, corporations can use these corporate- friendly panels to challenge rules right here in America. It wasn't always this way.…





