[Congressional Record Volume 165, Number 180 (Tuesday, November 12, 2019)]
[Senate]
[Pages S6489-S6490]
From the Congressional Record Online through the Government Publishing Office [www.gpo.gov]




              UNITED STATES-MEXICO-CANADA TRADE AGREEMENT

  Mr. McCONNELL. Madam President, I was privileged to spend a good 
chunk of the day yesterday with the hardworking men and women of North 
American Stainless in Carroll County, KY. They are a high-quality 
stainless steel manufacturing firm that is actually the largest fully 
integrated stainless steel producer in the entire United States.
  They produce about one-third of all U.S. stainless. The company 
brings 1,500 jobs to its rural community that is Kentucky's 8th largest 
manufacturer by total employment. I joined them yesterday to celebrate 
an important legislative accomplishment that I was able to spearhead 
back in July: the long overdue Senate ratification of a bipartisan tax 
treaty protocol with Spain. By passing this new protocol, we cleared 
away a mess of confusing and unfair double taxation, the threat of 
which had stunted growth and investment right here at home.
  I got to hear again, firsthand, what a significant difference the 
approval of

[[Page S6490]]

this simple bipartisan tax treaty will make for this American 
manufacturer. I was happy to hear the CEO announce that the company can 
now move forward with a major $30 million capital investment in 
developing its facility and its workforce as a direct result of the 
ratification of that treaty.
  It was just another reminder that the economic policies we vote on 
here, often on a bipartisan basis, make an enormous difference for 
workers and job creators in each of our States.
  While we applauded the Spain tax treaty and the new prosperity it 
will unlock, it was impossible to overlook the fact that USMCA is still 
being blocked over in the House of Representatives. By one analysis, 12 
million American jobs are dependent upon trade with Mexico and Canada. 
Together they make up a $500 billion market for U.S. exports. It is no 
surprise that updating our trading relationships with both of our North 
American neighbors would stand to have a major positive effect on our 
economy.
  To be more specific, according to data from the International Trade 
Commission, the USMCA would generate about 176,000 new American jobs. 
It would pump nearly $70 billion into the U.S. economy, and the already 
massive markets for U.S. products would be expected to grow by tens of 
billions more.
  For months, Speaker Pelosi and House Democrats have been claiming 
they notionally support this agreement and want to get to yes, but 
month after month, this happy talk has seemingly led to no tangible 
progress, just more heel-dragging. Hard-working Kentuckians, people 
like our farmers and our cattlemen, keep writing to me and asking 
Congress to pass the USMCA, but Speaker Pelosi will not make time for 
it.
  House Democrats have enough time to continue their 3-year-old 
obsession with impeaching the President, but they cannot find the time 
to pass a landmark trade deal that will create 176,000 new American 
jobs. Just saying their priorities out loud indicates how backward they 
are.

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