Groups urge quick passage of bill by Congress

Dozens of business groups scrambled Thursday to praise the introduction of bipartisan legislation giving the president the authority to negotiate trade deals with other countries.

Reauthorization of Trade Promotion Authority—also known as fast-track trade authority—is one of the top priorities of the business community. TPA expired in 2007 and is needed by the U.S. to successfully conclude the negotiations for the Trans-Pacific Partnership and the Transatlantic Trade and Investment Partnership, according to the sponsors.

News of the bill's introduction set off a cascade of statements from various associations, all urging Congress to pass the legislation as soon as possible.

"Creating opportunities for American companies to reach customers through 21st century trade agreements can help fuel our economy and keep the United States globally competitive," said Tom Linebarger, chair of Business Roundtable's International Engagement Committee.

"It is vitally important that Congress support international trade by tearing down barriers to markets and reducing tariffs," National Retail Federation CEO Matthew Shay said. "We urge Congress to quickly pass TPA legislation in order to conclude trade agreements currently being negotiated."

Eight technology industry association CEOs released a joint statement urging passage of the legislation, noting much has change in the business and technology worlds since when TPA was last approved in 2002.

"Congress must seize this rare bipartisan opportunity to modernize TPA and give American businesses that rely on trade a chance to compete and succeed in today's global marketplace," TechNet CEO Linda Moore said.

The agriculture sector also is a big fan of TPA given it draws much of its revenue from farm exports to other countries. International Dairy Foods Association CEO Connie Tipton said U.S. dairy exports have risen from $1.4 billion in 2004 to $7.1 billion in 2014.

"Since every $1 billion in exports creates 5,600 jobs, according to the Department of Commerce, increasing access to new markets through trade agreements will have a positive impact on American workers," she said.

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