Hon. Michael G. Oxley: “A vote in favor of Trade Promotion Authority today will be a vote in favor of U.S. workers, it will be a vote in favor…”

“A vote in favor of Trade Promotion Authority today will be a vote in favor of U.S. workers, it will be a vote in favor of increased exports, and it will be a vote in favor of economic growth. This bill will have a positive effect on all aspects of the U.S. economy, not the least of which will be the services sector. Last year the U.S. exported $295 billion in services, compared to imports of $215 billion, leading to an $80 billion surplus in services trade. Between 1989 and 1999, 20.6 million new U.S. jobs were added to the economy in service related industries. These knowledge-based jobs account for 80% of the total private sector employment in the U.S. Today we have the opportunity to either expand this number by voting in favor of H.R. 3005, or to begin to erode these impressive figures by denying the President the tools he needs to negotiate strong free trade agreements. As Chairman of the Financial Services Committee I understand how important this bill is to maintain our competitiveness in the international arena.”