Representative Alan Grayson (D-FL09), today made the following statement opposing elements of the TransPacific Partnership (TPP) that were released today:
"It comes as little surprise that a trade deal negotiated in secret has provisions protecting large corporations and banks, but no protection for American workers. Companies like General Electric and Caterpillar are expected to reap millions from TPP, while more American jobs are shipped overseas. This deal will hurt American wages, as our workers will be forced to compete with those from countries who pay as little as $0.65 an hour. It will remove important food safety regulations, endangering everyone. The only winners from this deal will be American corporations and foreign workers – not the American workers whose lives we should be working to improve.
Our trade debt currently stands at $11 trillion. This is money that we owe to other countries. The TPP will just make this worse. This trade imbalance is one of the biggest contributors to wage stagnation, income inequality, and the disappearance of the American middle class. We cannot have a true, and full, economic recovery until everyone is fully benefitting. Deals like TPP are counter to what we as a country should be pursuing."