(William Mauldin – Wall Street Journal)
House and Senate negotiators are converging on a deal to ease the passage of trade agreements, a key step in putting the divisive issue before the full Congress as the White House pursues a sweeping trade pact in Asia.
The legislation, known as trade promotion authority or fast track, comes as the Obama administration is seeking to conclude negotiations on a 12-nation Pacific trade deal—the economic centerpiece of the president’s rebalancing of U.S. policy toward Asia.
Fast track allows Congress to set negotiating priorities for the administration and provide input, while ensuring a deal struck overseas would get a congressional vote with no amendments or procedural delays. Fast track is popular with Republicans but has many Democratic critics. Click here to read more.