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The Latest on Fair TradeThe Panama Trade Agreement With 350,000 registered corporations, Panama is one of the top tax havens for companies that want to offshore and avoid paying taxes in the U.S. A Government Accountability Office study identified Panama as one of only a few countries – and our only current or prospective FTA trading partner – listed on all major tax-haven watchdog lists. We do not need another trade deal that moves more of our companies overseas. The Senate Homeland Security Committee estimates that tax evasion in offshore havens costs our taxpayers $100 billion a year. The TRADE Act In the realm of trade policy, progressives have been limited largely to opposing bad trade legislation. However, that is no longer necessary. ADA urges the new Congress and Administration to enact the Trade Reform Accountability Development and Employment Act (TRADE Act), co-sponsored by Senator Sherrod Brown and Representative Michael Michaud. The TRADE Act redefines American trade policy to support fair trade principles, such as improving the living conditions of people in all nations, providing enforceable standards to protect workers and the environment, and adopting processes that are transparent and not subject to Presidential “fast track” authority. ADA Resources:Fast Facts: The Panama Free-Trade Agreement Related Issues:Free Trade Area of the Americas No. 350 Jobs. Energy, Infrastructure No. 368 Fast Track/Presidential Trade Promotion Authority: Is This Democracy? No. 379 Topical Resolution: Fast Track: Is This Democracy? No. 380 Global Trade: Meeting Its Challenge, by Charles Craypo, Notre Dame Department of Economics | Take Action on Guaranteed Health Care for AllLobby your Representatives about the Panama Trade Agreement! Send a letter to the editor about the TRADE Act!
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