Our trade partners will not be willing to negotiate agreements if they face the Congressional amendment process. On June 26, Speaker Gingrich promised a vote on fast-track in September. On July 29, House GOP leaders confirmed this promise. The Senate Finance Committee included fast-track negotiating authority in the omnibus trade bill which passed on July 21. The 1996 Freedom to Farm Act phased out commodity price supports making American agriculture dependent upon the world marketplace to sell agricultural products.
American agriculture is more than twice as reliant on foreign trade as the U.S. economy as a whole.
Trade Negotiating Authority Renewal Fast-Track gives the Executive Branch authority to negotiate trade agreements with other countries. The House has scheduled a vote on fast-track the week of September 21. The IMF provides funding to assure fiscal stability, especially in the Asian markets. Kentucky Farm Bureau is urging the House leadership to announce a date for voting on the IMF request prior to the scheduled October recess. U. S. sanctions give our markets to competitors and hurt our reputation as a reliable supplier.