Fans of the Trade Priorities and Accountability Act of 2015, the House-passed bill that passed the Senate Wednesday (June 24), were celebrating that victory as the bill now heads to the President's desk.
“Today’s vote in the Senate in support of Trade Promotion Authority (TPA) is an important victory for our nation’s global competiveness and the 1.9 million American workers throughout the country in the U.S. motion picture and television industry," Motion Picture Association of America President Sen. Chris Dodd (pictured) said. "We applaud this major accomplishment in Congress."
Intel found plenty of reasons to be chipper over the news.
"As an American high-tech manufacturer, Intel considers new measures in The Bipartisan Congressional Trade Priorities and Accountability Act of 2015 that address the growing challenges of competing in a global and digital marketplace critical to economic growth and innovation. For the first time, this TPA bill directs U.S. negotiators to eliminate trade distortions and unfair competition by state-owned enterprises to ensure that they act based solely on commercial considerations. Another first can be found in updated intellectual property rights negotiating objectives to address trade secret theft. TPA also supports Information Technology Agreement expansion and will help prevent localization barriers, which undermine competition and reduce global trade by more than $90 billion each year."
Microsoft suggested TPA was opening a new window on new jobs and growth.
“While the issues are challenging, the bottom line is that today’s vote will grow 21st century jobs and investment in the United States," EVP and general counsel Brad Smith said. "This is true not only for new sectors such as information technology, but for manufacturing as well, given its growing reliance on e-commerce. Microsoft applauds the Congress for its leadership.”
CEA President Gary Shapiro suggested the bill, among other things, could advance world peace.
“Kudos to the Senate for passing TPA legislation," said Consumer Electronics Association President Gary Shapiro. "It is a common sense bill, which simply guarantees a vote on trade agreements and directs our trade negotiators to balance intellectual property rights with an open-and-fair flow of commerce. We thank the senators who voted for TPA. You are friends of innovation, technology, jobs and a more peaceful world."
The National Retail Federation said passage was a "landmark step toward tearing down trade barriers" and will result in more American jobs and lower prices for American consumers.
“This is a major victory for America’s innovation economy," said TechNet president Linda Moore. "Both the House and Senate have voted to advance a 21st century trade policy that for the first time embraces the digital economy."
“Manufacturers in the United States—and all Americans—scored a decisive win today," said the National Association of Manufacturers. "The Senate brought us a pivotal step closer toward opening doors to the 95 percent of the world’s consumers living outside our borders."
Even the Distilled Spirits Council toasted TPA's passage.
“TPA is critical to securing comprehensive trade agreements that open markets for American spirits,” Cressy said. “By continuing to expand the industry’s market access around the world, we can build upon the recent export growth, which is a victory for large and small distillers – and for the U.S. economy as a whole.”
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