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Resolution Condemning Trans-Pacific Partnership Withdraw

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Calvin Ward, with offer, with thanks to ,

A BILL

To condemn the President for his withdraw from the Trans-Pacific Partnership

This bill may be cited as the Resolution Condemning Trans-Pacific Partnership Withdraw.

Section 1: Terms & Definitions

Section 2: Findings

Petersen Institute of International Economics has reported that new estimates suggest that the TPP will increase annual real incomes in the United States by $131 billion, or 0.5 percent of GDP, and annual exports by $357 billion, or 9.1 percent of exports, over baseline projections by 2030, when the agreement is nearly fully implemented. Annual income gains by 2030 will be $492 billion for the world. While the United States will be the largest beneficiary of the TPP in absolute terms, the agreement will generate substantial gains for Japan, Malaysia, and Vietnam as well, and solid benefits for other members. The agreement will raise US wages but is not projected to change US employment levels. 

The GDAE predictions come from a Global Policy Model (GPM), which was actually developed to explore the macroeconomic relationships between countries and how unexpected shocks such as the global financial crisis could be transmitted among them is the model that the President cites as his reasoning however, Because of its macroeconomic focus, the GPM does not have the granularity that allows it to estimate variables such as exports, imports, foreign direct investment, and changes in industrial structure. As a result, its predictions ignore the benefits to the TPP economies that occur through increased specialization, the realization of scale economies, and improved consumer choice. 

https://piie.com/publications/working-papers/economic-effects-trans-pacific-partnership-new-estimates

https://piie.com/blogs/trade-investment-policy-watch/studies-tpp-which-credible


Section 3: Law Change

We the undersigned members of Congress do condemn the President's withdrawal from the Trans-Pacific Partnership as the model that he is using is based on a model that economists believe is an unorthodox and unrealistic model. We therefore ask him to reconsider and submit the agreement to the Senate for the people's Congress to make the decision. 


Section 4: Effective Date

The bill shall go into effect upon its constitutional passage.




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