The Senate has advanced a bill that would grant President Barack Obama and future U.S. presidents the authority to fast-track passage of trade deals, The Hill newspaper reported Friday.Alexander Bolton writes the trade bill was approved by senators in a 62-37 vote Friday and is expected to stir debate at the House of Representatives in the coming weeks.
The legislation would pave the way for the Obama administration to finalize and submit a Trans-Pacific Partnership agreement to Congress for approval or rejection through a simple majority voting procedure, according to the newspaper.
Sen. Orrin Hatch (R-Utah) chairman of the Senate Finance Committee, and Sen. Ron Wyden (D-Ore.) introduced the bill with the goal of expediting U.S.’ trade negotiations with other countries over the next six years.
