Trans-Pacific Partnership bad for Maryland, workers
Democrats and Republicans have never been more divided, yet opposition to the Trans-Pacific Partnership (TPP) is uniting Americans across party lines.
The TPP covers 40 percent of the global economy, yet it was negotiated in secret with hundreds of corporate advisors while the public was locked out. The TPP may be called a “trade” agreement, but that is not what it is really about.
The key provision in the TPP grants new rights to thousands of multinational corporations to sue the U.S. government before a panel of three corporate lawyers. These lawyers can award the corporations unlimited sums to be paid by America’s taxpayers, including for the loss of expected future profits.
This means the TPP would newly empower hundreds of multinational corporate subsidiaries from TPP countries located in Maryland to launch investor-state cases against the U.S. government. Even worse, the government’s own International Trade Commission’s study found that 59,181 Maryland manufacturing jobs are at-risk under the TPP. This agreement is not good for the people of Maryland. It would make it easier for corporations to send jobs overseas and sue the U.S. government for unlimited sums of taxpayer money in secretive corporate tribunals.
President Obama will be sending the deal to Congress for approval after the election, when accountability is at its lowest. Yet our representative, Steny Hoyer, still refuses to speak out against the TPP.
As our voice in Congress, it’s time Rep. Steny Hoyer (D-Md., 5th) gets off the fence and publicly opposes the TPP.
Jason Roe, Greenbelt