January, 15 2020, 11:00pm EDT
Jubilee USA Statement on Senate Passing USMCA
WASHINGTON
The Senate passed the United States Mexico Canada Agreement today in a 89 to 10 vote. The agreement takes effect if President Trump signs the law and Canada approves the agreement.
Eric LeCompte the Executive Director of Jubilee USA, a religious development organization that worked on portions of the agreement, releases the following statement:
"If this new trade pact is signed into law by President Trump and approved by Canada, it will stop the previous trade arbitration process that enabled abusive corporations to skirt labor laws and protections for poor people.
"The new agreement removes harmful language that in past trade agreements prevented vulnerable people from accessing medicines.
"I commend the agreement from stopping predatory hedge funds from collecting on old bad debts."
Read Jubilee USA's statement with the Catholic, Episcopalian, United Methodist, Presbyterian, Evangelical Lutheran and United Church of Christ Churches calling on the US Government to enact trade agreements that protect vulnerable people here
Jubilee USA Network is an interfaith, non-profit alliance of religious, development and advocacy organizations. We are 75 U.S. institutions and more than 750 faith groups working across the United States and around the globe. We address the structural causes of poverty and inequality in our communities and countries around the world.
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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.
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