June, 21 2019, 12:00am EDT
Democratic Presidential Candidates United that NAFTA 2.0 Should Not Be Approved As Written
Leading White House Contenders Say Trump’s NAFTA Proposal Needs Stronger Terms on Labor, the Environment, Enforcement & New Monopolies for Big Pharma Must Be Eliminated
WASHINGTON
Democratic presidential candidates are united in the view that the Trump administration's proposal for a revised North American Free Trade Agreement (NAFTA) should not be approved by Congress without substantive improvements to the text Donald Trump signed last year.
All sixteen candidates -- including Joe Biden, Bernie Sanders, Elizabeth Warren, Kamala Harris, Pete Buttigieg, Beto O'Rourke, Julian Castro and others -- who responded to a question posed by a national coalition working on trade policy agreed that the new NAFTA proposal "should not be enacted unless and until stronger labor and environmental terms with swift and certain enforcement are added and language on pharmaceutical monopolies that locks in high medicine prices is removed."
"Given how important Trump's trade promises were to his 2016 election, it's not surprising that those looking to unseat him are quick to point out that Trump's proposed NAFTA revision fails to make the changes needed to stop outsourcing and that its new giveaways for pharmaceutical companies would lock in high drug prices," said Arthur Stamoulis, executive director of Citizens Trade Campaign, the coalition of labor, environmental, family farm, faith and consumer organizations that approached the various campaigns on the issue. "Americans deserve a comprehensive NAFTA replacement that actually protects jobs, raises wages, defends worker rights and safeguards the environment. A lot more work is needed to get there."
While some Republicans and corporate lobby groups are pushing for Congress to approve the NAFTA 2.0 text as written this summer, House Democrats are currently urging the White House to make changes to its NAFTA proposal in the areas of labor, the environment, enforcement and access to medicines before introducing the pact for a vote. Democratic Congress members' resolve could be bolstered by the unanimous support of so many Democratic candidates vying for the presidency.
Joe Biden, Cory Booker, Pete Buttigieg, Julian Castro, Bill de Blasio, Kirsten Gillabrand, Mike Gravel, Kamala Harris, John Hickenlooper, Jay Inslee, Beto O'Rourke, Tim Ryan, Bernie Sanders, Eric Swalwell, Elizabeth Warren and Marianne Williamson each answered "Yes" to the question, "Do you agree that the revised version of the North American Free Trade Agreement (NAFTA) signed by President Trump on November 30, 2018 should not be enacted unless and until stronger labor and environmental terms with swift and certain enforcement are added and language on pharmaceutical monopolies that locks in high medicine prices is removed?"
The following candidates also offered these additional comments:
Sen. Cory Booker
"I am opposed to President Trump's new NAFTA deal. It should be renegotiated to strengthen labor protections and environmental standards, and improve access to prescription drugs."
Mayor Bill de Blasio
"America doesn't want NAFTA 2.0 and that is exactly what the agreement President Trump signed is.
"For decades Republicans - and too many Democrats - promised American workers that the benefits of free trade would 'trickle down' to them. It didn't happen and it won't happen under the terms of the deal President Trump has negotiated.
"Trump's new NAFTA will do nothing to address the problems with the old NAFTA. While masquerading as 'America First,' Trump's proposal prohibits 'Buy American' procurement policies. It makes no mention of climate change but gives oil and gas companies new tools to evade Mexican environmental laws. It allows big pharma to lock in higher prescription drug prices. And it doesn't do anything to address the outsourcing of U.S. jobs.
"For Congress to consider approving this trade deal significant changes must be made: removing sweetheart provisions for fossil fuel and pharmaceutical companies, and significantly strengthening enforcement of labor and environmental provisions.
"What America truly needs is an entirely new approach to trade that puts working people and our planet first, not multinational corporations. Trump's NAFTA 2.0 doesn't provide that."
Sen. Kirsten Gillibrand
"NAFTA must be completely overhauled in order to establish dependable trading conditions that are fair for our communities and our workers. Any changes to NAFTA must strengthen enforcement provisions and increase protections for labor and the environment because our workers can out-compete anyone in the world on a balanced playing field. Too many drug companies care more about their own profits than whether sick patients have access to medicine. I will advocate that any new deal must break the stranglehold of pharmaceutical companies on high drug prices to help people get access to the medicine they need."
Sen. Mike Gravel
"NAFTA and its updated worker pillaging version signed by Trump are treaties designed to extract the greatest amount of surplus value from workers by slashing wages through relocation and instigating phony race to the bottom competition between workers in North America. The Reagan Administration illegally collaborated with the auto industry to move it out of Detroit and Clinton put the nail in the coffin by signing NAFTA. At a moment when there's a timidly resurgent labour movement in Mexico and the United States, Trump is trying to stifle it through regulatory action and trade sleight of hands like the new treaty."
Sen. Kamala D. Harris
"I believe the purpose of any trade agreement must be to create jobs in America, raise wages, and strengthen the middle class. That's why, as president, I will not sign any trade agreement unless it contains strong and enforceable provisions to protect workers, safeguard our environment, and crack down on trade manipulation by other countries. In my Administration, labor will have a seat at the table to ensure any agreement meets that test. It's clear the so-called 'U.S.-Mexico-Canada Agreement' does not, and as a result, I will not support it."
Gov. Jay Inslee
"I believe we must revise North American trade policy in a way that directly confronts climate change and implements strong, enforceable labor and environmental standards that help the United States meet climate action goals. Currently, the United States-Mexico-Canada Agreement (USMCA) negotiated by the Trump Administration does not contain sufficiently enforceable labor or environmental standards, nor does it even mention the term 'climate change.' Clearly, we must do better.
"I also believe that U.S. trade policies, trade agreements, and trade relationships should all be evaluated to ensure they are consistent with the swift and just transition to a global carbon-free future. Historically, American trade policy -- and most international trade agreements -- has often been an impediment to effective climate action. America's trade agreements have frequently preferred corporate profits over protections for workers, consumers, public health, and the climate or the environment. This profits-over-people approach to trade has led to a series of missed opportunities. That is why I have proposed applying a new and enforceable climate standard to American trade agreements, to condition their terms upon each party's commitment to adopt, maintain and implement policies specifically to fulfill their commitments to the Paris Agreement, and to take other actions, such as investing in global climate mitigation and adaptation, and adopting and implementing other agreements such as the Kigali Amendment."
Sen. Bernie Sanders
"The reality is that Trump's NAFTA 2.0 would do nothing to prevent corporations from shipping jobs to Mexico where workers are paid less than two bucks an hour. It includes outrageous giveaways to the fossil fuel and pharmaceutical industries. So, I say to Donald Trump: For once in your life, keep your campaign promises. Go back to the drawing board on NAFTA. Do not send this treaty to Congress until it includes strong and swift enforcement mechanisms to raise the wages of workers to prevent corporations from outsourcing American jobs to Mexico and protect the environment. And take out all of the riders in your treaty that increase prescription drug prices and benefit big oil companies. We need a trade policy in America that works for working families, not the CEOs of multinational corporations."
Sen. Elizabeth Warren
"There's no question we need to renegotiate NAFTA. The federal government has certified that NAFTA has already cost us nearly a million good American jobs - and big companies continue to use NAFTA to outsource jobs to Mexico to this day. But as it's currently written, Trump's deal won't stop the serious and ongoing harm NAFTA causes for American workers. It won't stop outsourcing, it won't raise wages, and it won't create jobs. It's NAFTA 2.0.
"For example, NAFTA 2.0 has better labor standards on paper but it doesn't give American workers enough tools to enforce those standards. Without swift and certain enforcement of these new labor standards, big corporations will continue outsourcing jobs to Mexico to so they can pay workers less.
"NAFTA 2.0 is also stuffed with handouts that will let big drug companies lock in the high prices they charge for many drugs. The new rules will make it harder to bring down drug prices for seniors and anyone else who needs access to life-saving medicine.
"And NAFTA 2.0 does little to reduce pollution or combat the dangers of climate change - giving American companies one more reason to close their factories here and move to Mexico where the environmental standards are lower. That's bad for the earth and bad for American workers.
"For these reasons, I oppose NAFTA 2.0, and will vote against it in the Senate unless President Trump reopens the agreement and produces a better deal for America's working families. The President grabs headlines railing against GM's plans to axe thousands of American jobs in Ohio and Michigan - but his actual policies aren't stopping them or others like them from continuing to put corporate profits ahead of American workers. It's time for real change. We need a new approach to trade, and it should begin with a simple principle: our policies should not prioritize corporate profits over American paychecks. That should be true for NAFTA and true for every deal we cut."
Ms. Marianne Williamson
"We need to protect the interests of American workers, consumers and citizens in any new NAFTA agreement. Before Congress approves the new NAFTA 2.0, we must strengthen both labor and environmental standards, and write them into the core of the agreement so they are enforceable. And we must limit the monopoly control of pharmaceutical companies, so medicines can be more affordable and accessible for people who need them."
The Citizens Trade Campaign (CTC) is a national coalition of environmental, labor, consumer, family farm, religious, and other civil society groups founded in 1992 to improve the North American Free Trade Agreement (NAFTA). We are united in a common belief that international trade and investment are not ends unto themselves, but instead must be viewed as a means for achieving other societal goals such as economic justice, human rights, healthy communities, and a sound environment.
(202) 494-8826LATEST NEWS
Why Can't We Fund Universal Public Goods? Blame the Tax-Dodging Billionaire Nepo Babies
"In 2024, these billionaire families used their enormous wealth to make record-breaking political contributions to secure a GOP trifecta," reads a new report.
Dec 13, 2024
The children of the richest families in the U.S. are well-known for spending their vast wealth on frivolous luxuries—constructing a replica of a medieval church on their acres of property, in the case of banking heir Timothy Mellon, or starting a brand of T-shirts described by one critic as "terrible beyond your wildest imagination," as Wyatt Koch, nephew of Republican megadonors Charles and David, did.
But a report released by Americans for Tax Fairness (ATF) on Thursday shows how "billionaire nepo babies" don't just waste their families' fortunes. They also benefit from "a rigged system" that allows them to "pass that wealth down over generations without being properly taxed–often without being taxed at all."
In addition, the heirs of the country's biggest fortunes spend vast sums "to elect politicians who protect their unearned wealth and manipulate the country's economy in their favor," said ATF.
Along with Mellon and Koch, the report profiles Samuel Logan of the Scripps media dynasty; Nicola Peltz-Beckham, daughter of billionaire investor Nelson Peltz; Gabrielle Rubenstein, whose family has made its fortune in private equity; and President-elect Donald Trump's son, Eric Trump.
The nepo babies are part of a small group of billionaire families in the U.S. who benefit from tax loopholes that ensure little of their immense wealth ever goes to benefit the public good.
At least 90 billionaires have passed away over the last decade, leaving their beneficiaries $455 billion in collective wealth.
But according to ATF, "$255 billion (56%) of that amount was likely entirely exempt from the capital gains tax because of a special break called 'stepped up basis.'"
"Trump and his allies in Congress are doing their donors' bidding by rigging the system in their favor and pushing a $4 trillion giveaway to wealthy elites and giant corporations."
Without loopholes included the stepped up basis tax cut, the current estate tax on billionaires and centimillionaires would yield enough revenue to fund universal childcare, preschool, and paid family leave for U.S. workers, with hundreds of billions of dollars left over, according to ATF's report.
The wealthy heirs profiled in the report and their families are some of the Republican Party's top donors—contributing hundreds of millions of dollars to candidates including Trump in the hopes of securing even more tax cuts.
Mellon, for example, is Trump's "biggest supporter, giving $140 million to a pro-Trump PAC in 2024 alone," reads the report.
A previous analysis by ATF found that as of late October, just 150 billionaire families had spent $1.9 billion on the 2024 elections.
As the Center for American Progress found earlier this year, Trump's plan to extend the tax cuts that he pushed through in 2017 would cost $4 trillion over the next decade.
"The vast wealth inherited by centuries-old billionaire families is staggering. While these heirs and their billions go undertaxed, enormous sums are squandered on lavish mansions, private jets, and vanity projects instead of funding crucial public investments," said ATF executive director David Kass. "In 2024, these billionaire families used their enormous wealth to make record-breaking political contributions to secure a GOP trifecta. Now, Trump and his allies in Congress are doing their donors' bidding by rigging the system in their favor and pushing a $4 trillion giveaway to wealthy elites and giant corporations—all while advocating for cuts to vital programs that working and middle-class Americans depend on."
The report calls for Congress to pass "proven, pragmatic proposals to unrig the tax system that enjoy high levels of popular support," such as the Ultra Millionaire Tax Act that was proposed by Sen. Elizabeth Warren (D-Mass.) and Reps. Pramila Jayapal (D-Wash.) and Brendan Boyle (D-Pa.) this year. The bill would tax fortunes between $50 million and $1 billion at 2% and wealth above $1 billion at $1 billion.
The small tax on enormous wealth would generate "a whopping $3 trillion over 10 years," said ATF.
The estate tax could also be "restored so that it can play a meaningful role in promoting fairness and equal opportunities" through the passage of the For the 99.5% Act, which was introduced in 2023 by Sen. Bernie Sanders (I-Vt.) and Rep. Jimmy Gomez (D-Calif.).
Under the bill, the estate tax exemption would be lowered to $7 million per couple and the current 40% flat rate would be replaced with a sliding scale that would charge higher rates as a family's wealth grows.
"None of these tax reforms would impoverish the ultra wealthy, nor even inconvenience them in any meaningful way–but they would reduce the concentration of wealth that is so corrosive to society," reads the report. "At the same time, they would raise trillions of dollars that could be used to reduce inequality and improve the lives of families that can only dream of the kind of security and opportunity enjoyed by the nation’s richest clans."
"And if rich families ever did need to tighten their belts a bit to pay their taxes," the report continues, "the economizing might begin by reducing the flow of money funding the extravagant lifestyles of America's Billionaire Nepo Babies."
Keep ReadingShow Less
'The Next Recession Starts Here': Trump Team Weighs Abolishing Bank Regulators
The president-elect's advisers are reportedly discussing plans to shrink or eliminate key bank watchdogs, including the Federal Deposit Insurance Corporation.
Dec 13, 2024
President-elect Donald Trump and his advisers are reportedly considering plans to weaken—or abolish altogether—top bank regulators, including the Federal Deposit Insurance Corporation and Office of the Comptroller of the Currency.
The Wall Street Journalreported Thursday that members of Trump's transition team and the new Elon Musk-led Department of Government Efficiency have asked nominees under consideration to head the FDIC and OCC if the bank watchdogs could be eliminated and have their functions absorbed by the Treasury Department, which is set to be run by a billionaire hedge fund manager and crypto enthusiast.
"Bank executives are optimistic President-elect Donald Trump will ease a host of regulations on capital cushions and consumer protections, as well as scrutiny of consolidation in the industry," the Journal reported. "But FDIC deposit insurance is considered near sacred. Any move that threatened to undermine even the perception of deposit insurance could quickly ripple through banks and in a crisis might compound customer fears."
The Trump team's internal and fluid discussions about the fate of the key bank regulators broadly aligns with Project 2025's proposal to "merge the Office of the Comptroller of the Currency, the Federal Deposit Insurance Corporation, the National Credit Union Administration, and the Federal Reserve's non-monetary supervisory and regulatory functions."
The FDIC, which is primarily funded by bank insurance premiums, was established during the Great Depression to restore public trust in the nation's banking system, and the agency played a central role in navigating the 2023 bank failures that threatened a systemic crisis.
Observers warned that gutting the FDIC and OCC could catalyze another economic meltdown.
"The next recession starts here," tech journalist Jacob Silverman warned in response to the Journal's reporting.
Eric Rauchway, a historian of the New Deal, wrote that "even Milton Friedman appreciated the FDIC," underscoring the extreme nature of the incoming Trump administration's deregulatory ambitions.
Musk, the world's wealthiest man, is also pushing for the elimination of the Consumer Financial Protection Bureau, an agency established in the wake of the 2008 financial crisis.
The Journal noted Thursday that "Rep. Andy Barr, a Republican from Kentucky and Trump ally on the House Financial Services Committee, has backed the plan to eliminate or drastically alter the CFPB and said he wants to get rid of what he calls 'one-size-fits-all' regulation for banks."
Barr has received millions of dollars in campaign donations from the financial sector and "introduced many pieces of pro-industry legislation, including significant rollbacks of protections stemming from the 2008 financial crisis," according to the watchdog group Accountable.US.
Keep ReadingShow Less
UN Chief Warns of Israel's Syria Invasion and Land Seizures
United Nations Secretary-General António Guterres stressed the "urgent need" for Israel to "de-escalate violence on all fronts."
Dec 12, 2024
United Nations Secretary-General António Guterres said Thursday that he is "deeply concerned" by Israel's "recent and extensive violations of Syria's sovereignty and territorial integrity," including a ground invasion and airstrikes carried out by the Israel Defense Forces in the war-torn Mideastern nation.
Guterres "is particularly concerned over the hundreds of Israeli airstrikes on several locations in Syria" and has stressed the "urgent need to de-escalate violence on all fronts throughout the country," said U.N. spokesperson Stephane Dujarric.
Israel claims its invasion and bombardment of Syria—which come as the United States and Turkey have also violated Syrian sovereignty with air and ground attacks—are meant to create a security buffer along the countries' shared border in the wake of last week's fall of former Syrian President Bashar al-Assad and amid the IDF's ongoing assault on Gaza, which has killed or wounded more than 162,000 Palestinians and is the subject of an International Court of Justice genocide case.
While Israel argues that its invasion of Syria does not violate a 1974 armistice agreement between the two countries because the Assad dynasty no longer rules the neighboring nation, Dujarric said Guterres maintains that Israel must uphold its obligations under the deal, "including by ending all unauthorized presence in the area of separation and refraining from any action that would undermine the cease-fire and stability in Golan."
Israel conquered the western two-thirds of the Golan Heights in 1967 and has illegally occupied it ever since, annexing the seized lands in 1981.
Other countries including France, Russia, and Saudi Arabia have criticized Israel's invasion, while the United States defended the move.
"The Syrian army abandoned its positions in the area... which potentially creates a vacuum that could have been filled by terrorist organizations," U.S. State Department spokesperson Matthew Miller said at a press briefing earlier this week. "Israel has said that these actions are temporary to defend its borders. These are not permanent actions... We support all sides upholding the 1974 disengagement agreement."
Keep ReadingShow Less
Most Popular