Cory Booker on Free Trade
Booker, given the choice of supporting the president or his progressive allies, joined most Senate Democrats in voting no. "Our trade policy must balance the need to increase exports and expand commerce with provisions that empower American workers," Booker said in a statement. "This legislation did not provide enough assurance that a deal reached under its terms would achieve that balance."
The Trans-Pacific Partnership would lower trade barriers among the U.S. and 12 nations, including Canada, Mexico, Japan, New Zealand and Vietnam. The Obama administration has touted it as a way to grow the U.S. economy and create jobs
Stronger, more stable African countries are also good for our security. Some parts of Africa, like Mali and Somalia, have had significant problems with extremist groups. Extremists have a much harder time gaining a foothold and recruiting when a countries people are making money, putting food on the table, and being supported by an effective government.
American workers can compete and win on a level playing field, which is why China's cheating--through artificially depressing its currency and other unfair trade practices--is so damaging. While currency appreciation has occurred, keeping it artificially low hurts our economic competitiveness and undermines the trust that is essential to a strong relationship. That doesn't mean we should start a trade war--that would hurt our economy just as much as it would hurt China's. Instead, our goal should be a level playing field that treats everyone fairly, and that includes cracking down on unfair practices, such as unreasonable market barriers and Intellectual Property theft, that often break China's commitments to us and the rest of the world.
This bill raises the cap on outstanding loans, guarantees, and insurance of the Export-Import Bank of the United States for FY2015-FY2022 and afterwards. The Bank shall:
Opponents reasons for voting NAY: (Washington Examiner, 12/2/12): The Export-Import Bank is a taxpayer-backed agency that finances U.S. exports, primarily though loan guarantees. You'd think the bank would spread the money around to nurture up-and-coming businesses. You'd be wrong, very wrong. In fact, 83% of its taxpayer-backed loan guarantees in 2012 went to just one exporter: Boeing. Welcome to the "New Economic Patriotism," where the big get bigger and taxpayers bear the risk. Ex-Im is at the heart of Obama's National Export Initiative and is a pillar of the economic patriotism that Obama pledged in a second term. When government hands out more money, the guys with the best lobbyists and the closest ties to power will disproportionately get their hands on that money. Obama has spent four years pushing more subsidies, more bailouts and more regulations. "New Economic Patriotism" basically amounts to a national industrial policy -- Washington championing certain major domestic companies and industries, as if the global economy were an Olympic competition.
|Other big-city mayors on Free Trade:||Cory Booker on other issues:|
Tom Barrett (D,Milwaukee)
Bill de Blasio (D,NYC)
Rahm Emanuel (D,Chicago)
Bob Filner (D,San Diego)
Steven Fulop (D,Jersey City)
Eric Garcetti (D,Los Angeles)
Mike Rawlings (D,Dallas)
Marty Walsh (D,Boston)
Rocky Anderson (I,Salt Lake City)
Tom Barrett (D,Milwaukee,WI)
Mike Bloomberg (I,New York City)
Cory Booker (D,Newark,NJ)
Jerry Brown (D,Oakland,CA)
Julian Castro (D,San Antonio,TX)
Rudy Giuliani (R,New York City)
Phil Gordon (D,Phoenix)
Tom Menino (D,Boston)
Dennis Kucinch (D,Cleveland,OH)
Michael Nutter (D,Philadelphia)
Sarah Palin (R,Wasilla,AK)
Annise Parker (D,Houston)
Jerry Sanders (R,San Diego)
Antonio Villaraigosa (D,Los Angeles)