[Congressional Record (Bound Edition), Volume 161 (2015), Part 11]
[Senate]
[Pages 14966-14968]
[From the U.S. Government Publishing Office, www.gpo.gov]




     TSA OFFICE OF INSPECTION ACCOUNTABILITY ACT OF 2015--Continued

  The PRESIDING OFFICER. The Senator from Utah.


                  Trans-Pacific Partnership Agreement

  Mr. HATCH. Mr. President, I rise today to say a few words about the 
latest developments in international trade.
  As most of my colleagues know, this week officials from the Obama 
administration are meeting in Atlanta with representatives from our 
negotiating partners in the proposed Trans-Pacific Partnership, or TPP. 
Many reports indicate that our trade negotiators are hoping to conclude 
talks and finalize a deal over the next few days.
  Now, as the Presiding Officer is aware, I was an original author of 
the legislation that renewed trade promotion authority, or TPA, earlier 
this year. I fought extremely hard to renew TPA because I believe it is 
an absolutely essential tool to ensure we get the very best trade 
agreements possible. For years I have been one of the most outspoken 
proponents in Congress for full engagement in the various trade 
agreements that have been under negotiation, including the TPP.
  A strong Trans-Pacific Partnership Agreement could greatly enhance 
our Nation's ability to compete in an increasingly global marketplace 
and result in a healthier economy and more high-paying jobs that come 
with increased U.S. trade. After all, when we are talking about the 12 
countries currently taking part in these negotiations, we are talking 
about 40 percent of the global economy. As a group, TPP countries 
represent the largest market for our goods and services exports. Trade 
with these countries already supports an estimated 4 million U.S. jobs, 
and, with a good trade agreement in place, I believe it can do even 
better.
  The Asia-Pacific region, where this agreement is focused, is one of 
the most economically vibrant and fastest growing areas in the world. 
According to the International Monetary Fund, the world economy will 
grow by more than $20 trillion over the next 5 years, and nearly half 
of that growth will be in Asia. Unfortunately, our share of exports to 
the Asia-Pacific has been on the decline, as exports to the region lag 
behind overall U.S. export growth. One reason U.S. companies have lost 
so much market share in this very important part of the world is that 
many countries in the region maintain steep barriers to U.S. exports 
while they have been negotiating to remove many of the same types of 
barriers for other countries, most notably for places such as China and 
the European Union.
  On average, Southeast Asian countries impose tariffs that are five 
times higher than the average U.S. tariff. In addition, their duties on 
U.S. agricultural products often reach triple digits. There are also 
numerous other barriers, such as regulatory restrictions, that impede 
access for U.S. exporters in many of these countries. These obstacles, 
and increased global competition, have made it increasingly difficult 
for U.S. companies to remain competitive in Asia.
  Put simply, a strong TPP Agreement is the best tool we could have to 
increase the growth of U.S. exports to the Asia-Pacific region.
  There are also important strategic and security reasons to support a 
strong TPP Agreement. We have all seen in recent years how the 
economies of our Trans-Pacific Partnership negotiating partners have 
been shaped by China's expanding economic influence. I think we would 
all prefer that the United States remain the world leader in trade. If 
we want to maintain and expand our influence in the Asia-Pacific, it is 
essential that we more fully engage in that region. A strong TPP 
Agreement will facilitate that engagement and help ensure that trade 
patterns develop under a U.S. model, operating under U.S. rules and 
applying U.S. standards.
  A strong TPP Agreement can help us create high-paying jobs through 
increased exports, as well as help secure our strategic and economic 
position in the Asia-Pacific region. But to do all of that, we need a 
strong agreement. That is why I have been pushing the Obama 
administration to negotiate wisely in order to reach a TPP Agreement 
that advances our Nation's interests and provides significant benefits 
for American workers and job creators.
  Despite these obvious advantages to concluding a TPP Agreement, I 
think it is critically important that the administration take the time 
necessary to get the agreement right. A number of key issues are 
outstanding, and how they are resolved will go a long way to 
determining whether I can support the final agreement.
  Our country has a long history of negotiating and reaching high-
standard trade agreements. While they haven't all been perfect, our 
existing trade agreements have, in my view, advanced our interests in 
foreign markets and strengthened our own economy.
  There are a number of reasons why, historically, our trade 
negotiators have fought long and hard to get gold-standard agreements. 
The most obvious reason is that anything less is unlikely to pass 
through Congress. If the administration is serious about not only 
getting an agreement but getting an agreement passed, they need to make 
sure they get our country the best deal possible. If that means 
continuing negotiations beyond Atlanta, so be it. Getting a good 
agreement will be worth the wait.
  Over the years, I have laid out very clearly what I think a good 
agreement looks like. These ideas are embodied in the recently enacted 
TPA law. If the administration and our negotiating partners do conclude 
an agreement this week, they can be sure that I will examine it very 
carefully to ensure it meets these standards. As I have stated many 
times before, if the agreement falls short, I will not support it. I 
don't think I will be alone on that.
  I am as big a proponent of expanding U.S. trade as you will find in 
this

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Chamber, with the possible exception of the Presiding Officer, and, in 
concept, I very much support the idea of a Trans-Pacific Partnership. 
While I worked very hard for a number of years to get a TPA bill 
through Congress, I have made it abundantly clear that I will not 
support just any deal, whether it is this or any other future 
administration that wants to sign it. We need to get a good deal. 
Indeed, as I have said, we need to get the best deal possible.
  No one--at least no one from our side of the negotiations--should be 
in a hurry to close talks if it means getting a less-than-optimal 
result for our country. Ultimately, I don't believe anyone in the 
administration wants to reach an agreement that will not pass in 
Congress.
  I think our negotiators understand these concerns. My hope is that, 
as they move through the latest rounds of talks in Atlanta this week, 
they consider what it will take to get a deal through Congress. If we 
look at the bipartisan coalition that supported our TPA bill, we should 
get a pretty good sense of the balance it will take to get enough 
support here in the Senate and over in the House. Put simply, if TPP 
does not reflect that balance, it is hard to see how it will be 
successfully enacted into law.
  As always, I am an optimist. I know we can get a good deal here, and, 
for my part, I am going to do all I can to help ensure that we do.
  I don't think I am alone when I say I am going to be watching very 
closely to see what happens in Atlanta this week. All of us have an 
interest in the outcome of these negotiations. Hopefully, in the end, 
those of us who have supported TPA and its promise of better trade 
terms for U.S. workers and expanded market access for American goods 
and services will not be disappointed at the outcome.
  I yield the floor.
  The PRESIDING OFFICER. The Senator from Maine.


                      Federal Perkins Loan Program

  Ms. COLLINS. Mr. President, I rise to support reauthorizing the 
Perkins Loan Program, which will expire tomorrow, September 30, if the 
Senate does not act.
  Yesterday, the House of Representatives passed legislation to extend 
this vital program for 1 year. I urge my Senate colleagues to support 
this bill and send it immediately to the President for his signature.
  I want to recognize and thank my colleagues, Senator Baldwin, Senator 
Casey, and the Presiding Officer, Senator Portman, for their leadership 
in highlighting the importance of this program. I am pleased to join 
with them in submitting a Senate resolution urging its extension.
  Since 1958, the Perkins Loan Program has helped make college 
affordable for millions of students who have financial need. In the 
State of Maine, more than 5,000 students received a Perkins loan last 
year, providing $9.2 million in aid. Last Friday, I had a conversation 
with the president of the University of Maine, who told me just how 
critical Perkins loans are to UMaine students.
  Perkins loans are a critical part of a college's and a student's 
financial aid resources. These loans help to fill gaps beyond what is 
available through the Department of Education's Direct Loan Program and 
a family's ability to pay. A Perkins loan can meet that additional need 
so that students do not have to resort to borrowing through private or 
higher cost loans, and, most of all, so they can remain in school.
  Perkins borrowers are predominantly from lower income families. For 
example, at the University of Maine last year, 64 percent of Perkins 
borrowers had a family income of $40,000 or less.
  The Perkins Loan Program is campus-based, which means that 
participating colleges and universities administer the loans. When 
students graduate, they make payments directly to their college or 
university, and those payments are used to make new loans to other 
students through a revolving fund. These revolving funds are a 
combination of a Federal contribution and an institutional match.
  Now, I think it is important to understand that Congress has not had 
to appropriate funds for the Perkins Loan Program since 2004 because of 
this revolving fund concept, but institutions continue to be able to 
assist needy students through this self-sustaining program. That is why 
we simply cannot allow it to lapse.
  As a Member of the Senate Health, Education, Labor and Pensions 
Committee, I know that our committee is committed to the 
reauthorization of the Higher Education Act. I strongly support that 
effort. In the meantime, however, we must ensure that there is not a 
lapse in the financial assistance provided to students under the 
Perkins Loan Program.
  As I mentioned earlier, the House-passed bill extends the authority 
for the Perkins Loan Program for an additional year and does not 
authorize any additional Federal funds. Students who receive a Perkins 
loan during this academic year and remain in the same academic program 
would be eligible to receive future Perkins loans.
  We only have 1 day before the Perkins Loan Program expires. Students 
at our colleges and universities are looking at us--they are depending 
on us--to ensure that this vital and proven program does not expire. I 
urge my colleagues to pass the House-passed legislation so that the 
Perkins Loan Program can continue.
  Mr. President, I ask unanimous consent to have printed in the Record 
a letter from the chancellor of the University of Maine System in 
support of the reauthorization of the Perkins Loan Program.
  There being no objection, the material was ordered to be printed in 
the Record, as follows:

                                      Maine's Public Universities,


                                   University of Maine System,

                                   Bangor, ME, September 23, 2015.
     Hon. Susan M. Collins,
     U.S. Senator, Bangor State Office,
     Bangor, ME.
       Dear Senator Collins: I'm writing to you on behalf of the 
     University of Maine System in support of the Federal Perkins 
     Loan Program. Perkins loans are an invaluable component of an 
     institution's and student's financial aid resources. The 
     flexibility, low fixed interest rate and generous 
     cancellation benefits are both unique and critical to our 
     needy student population, especially many middle and low-
     income students. The program is administered at the school 
     level providing a highly efficient, self-sustaining program 
     with accountability, transparency, and risk-sharing.
       The Federal Perkins Loan Program is in danger of being 
     discontinued. Without Congressional intervention, this 
     program will be terminated and the Perkins funds recalled 
     beginning October 1, 2015.
       Throughout the 56-year history of the Perkins Loan Program, 
     $7.9 billion in federal contributions have been leveraged 
     with institutional contributions into over $36 billion in 
     low-cost loans to more than 30 million needy students. The 
     fact that this program provides critical support each year to 
     more than a half-million students across the country, 
     operating solely right now on the existing revolving fund 
     dollars, is quite remarkable. A key factor of the program's 
     success is the central role of the college that originates, 
     services, and collects the loans, while providing loan 
     counseling for the borrower. This is one of the most 
     effective and efficient public-private partnerships in the 
     federal government.
       Perkins loans also offer more favorable forgiveness options 
     for borrowers than any other federal loan program. Full or 
     partial forgiveness is available to borrowers who work in 
     designated, high-need, public-service areas. During a time 
     when we are trying to reduce student loan indebtedness, the 
     loan forgiveness aspect of this unique program provides 
     financial relief to the student, and a well-educated 
     workforce to fortify public service in rural and inner-city 
     communities.
       Students enrolled at one of the institutions in the 
     University of Maine System have benefited for many years 
     because of the efficiencies of the Perkins Loan Program. In 
     fiscal year 2013-2014 the University of Maine System awarded 
     almost $5.1 million in Perkins Loans to 3,386 students who, 
     without this program, would be forced to either borrow 
     higher-cost loans or leave school altogether.
       If this program is eliminated, students at one of the 
     institutions in the University of Maine System will lose a 
     vital resource in support of their higher education goals. 
     Public universities already struggle to provide sufficient 
     financial aid to students, especially the lower and middle 
     class who currently benefit from this program.
       Eliminating the Perkins Loan Program will either force 
     students to borrow through less desirable loan programs, or 
     universities to make even more difficult cuts in an attempt 
     to fund the gap from the loss of this program.

[[Page 14968]]

       I sincerely hope that the students enrolled at all of the 
     institutions in the University of Maine System, and all 
     across the state, can count on your support of this vitally 
     important and proven program. Also, I hope you can help 
     facilitate a budget solution that does not impact funding in 
     other critical areas relating to higher education and other 
     federal loan programs.
       If you have any questions please feel free to contact me. 
     Thank you for your time and we appreciate your hard work and 
     support.
           Sincerely,
                                                    James H. Page,
                           Chancellor, University of Maine System.

  Ms. COLLINS. Again, I want to commend my colleagues, including the 
Presiding Officer, Senator Portman, and my colleague from Wisconsin who 
has been a leader on this issue as well.
  The PRESIDING OFFICER. The majority leader.

                          ____________________