$696,000 Sellout: Industry Group Showered Congress With Donations, Won Their Votes On Trade Deal
$696,000 Sellout: Industry Group Showered Congress With Donations, Won Their Votes On Job-Killing Trade Deal
Last year, Congress passed three trade deals with foreign countries — South Korea, Panama, and Colombia. Although these deals were referred to in mainstream political debate as “free trade” agreements, the truth is that all three agreements protected certain industries over others rather than completely drop trade barriers. The agreements, like past free trade pacts, also favor multinational corporation interests over those of workers and U.S. jobs and over protection of health, safety and the environment.
The nonpartisan Economic Policy Institute estimates that the Korean trade deal alone would cost 159,000 net American jobs. President Obama, a one-time critic but then later zealous advocate for the three deals, carefully avoided saying they would actually create jobs, saying that they would “support” American jobs.
Yet despite these drawbacks to the American economy, Congress passed the three deals by wide margins. Why? It’s likely that the answer has to do with the amount of corporate cash pushing the agreements. Let’s look at the influence of just one industry front group — Automotive Free International Trade (AFIT). In 2010 and 2011, the Obama administration made alterations to the Korea trade deal that won the support of major auto dealers like Ford Motor Company, which then switched to backing the deals to open up a new market for their cars. AFIT was a strong supporter of the Korea agreement, saying that such deals were “critical to the continued growth of the American economy.” The group’s Political Action Committee (PAC), financed by automotive industry dealers, showered Congressional candidates with money in the leadup to the 2010 elections.
Read more: http://www.republicreport.org/2012/korea-industry-group/
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"Korean trade deal alone would cost 159,000 net American jobs. President Obama, a one-time critic but then later zealous advocate for the three deals...."
We need this guy back:
