Oct 13, 2011

McCarthy Statement on House Passage of the United States-Panama Trade Promotion Agreement Implementation Act

Washington D.C. – House Majority Whip Kevin McCarthy (CA-22) released the following statement following House passage of the United States – Panama Trade Promotion Agreement Implementation Act (H.R. 3079):

“This is exactly the kind of action Washington needs to be taking to empower entrepreneurs and get Americans back to work. With the passage of this agreement, 87 percent of American industrial and consumer goods will enter Panama duty-free – immediately opening the door for job creation and economic growth here at home. In California’s 22nd District, nearly a third of our exports go to the Americas, so our region in particular stands to benefit from this new agreement with Panama. I look forward to continuing to pass additional legislation that will grow our economy and create the jobs we need.”

LOCAL NOTE: In the 22nd District of California, an estimated 139,627 jobs are directly supported by exports. In 2010 alone, $44.3 billion in merchandise was exported from local businesses. Similar statistics abound across the country, and the potential for U.S. job growth only increases with these new agreements.