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Saturday, July 9, 2011

postheadericon A duty to balance the gains and pains of free trade

Last week, Senate and House finance leaders finally hashed out a deal on a long-delayed trade pact with South Korea that included an agreement to reauthorize Trade Adjustment Assistance (TAA), which provides job training and income support to U.S. workers laid off due to trade. It was a rare opportunity to act on legislation with bipartisan support and the broad backing of voters, the U.S. Chamber of Commerce and worker advocates.

The deal quickly dissolved, however, when Republican opponents balked at TAA’s inclusion, despite the fact that reauthorization would be paid for through other cost-cutting measures. On Thursday, the House Ways and Means Committee held a mock markup of pending trade agreements with South Korea, Columbia and Panama that do not include reauthorization. This is a mistake for the economy and runs counter to the longstanding bipartisan support for helping U.S. workers displaced by trade.

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