11.12.19

House Democrats Putting Impeachment Ahead of USMCA

‘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.’

WASHINGTON, D.C. – U.S. Senate Majority Leader Mitch McConnell (R-KY) delivered the following remarks today on the Senate floor urging Congress to pass the USMCA:

“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’re 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 eighth-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 here at home.

“I got to hear again, firsthand, what a significant difference the approval of this simple, bipartisan tax treaty will make for this American manufacturer. And 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 workforce.

“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.

“But while we applauded the Spain tax treaty and the new prosperity it will help unlock, it was impossible to overlook the fact that the USMCA is still being blocked over in the House of Representatives.

“By one analysis, twelve million American jobs are dependent upon trade with Mexico and Canada. Together they make up a $500 billion-dollar market for U.S. exports.

“So it’s 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.

“Hardworking Kentuckians -- people like our farmers and our cattlemen -- keep writing to me, asking Congress to pass the USMCA. But Speaker Pelosi won’t make time for it.

“House Democrats have enough time to continue their three-year-old obsession with impeaching the president, but they cannot find the time to pass a landmark trade deal that would create 176,000 new American jobs. Just saying their priorities out loud indicates how backwards they are.”