–Senate Majority Leader: ‘We Are Going To Complete Action’ On Trade
–Congress To Pass Colombia, Panama and South Korea Trade Agreements
–Sen. Reid: ‘Look Forward’ To Passing Obama Jobs Bill ‘Piece By Piece’
–Sen. McConnell: ‘Happy To Look At Pieces’ of Obama’s Plan

By John Shaw

WASHINGTON (MNI) – Both the House and Senate are scheduled to vote
later in the day Wednesday on pending U.S. bilateral trade agreements
between the U.S. and Panama, Colombia and South Korea.

All three trade agreements are expected to be approved in both
chambers.

Senate Majority Leader Harry Reid said the Senate will hold the
votes later in the day, adding that the time of the Senate votes could
take place between late afternoon and late in the evening, depending on
whether the Senate uses all 12 hours that have been allocated for
debate.

“I think it’s important to do it today,” Reid said on the floor of
the Senate, adding that lawmakers want to have the South Korea agreement
approved before the South Korean president addresses a Joint Session of
Congress Thursday.

Senate Minority Leader Mitch McConnell said Wednesday that passage
of the three trade agreements is a “first good step” to boost the
American economy.

The House is expected to vote on the trade agreements between
5 p.m. and 5:30 p.m.

On another matter, Reid and McConnell sparred over the way forward
on jobs legislation. But they also offered a few words of conciliation.

Reid said he was disappointed that Republican senators blocked
Tuesday a motion to begin debate on President Obama’s $447 billion jobs
package as modified by Senate Democratic leaders. The revamped plan
would levy a 5.6% surtax on household income above $1 million to pay for
the full cost of Obama’s jobs plan.

Reid said he “looks forward” to trying to pass parts of Obama’s
jobs plan “piece by piece.”

McConnell said that considering smaller bills to boost job creation
“might well be appropriate,” adding that he is “happy to look at pieces
of it.”

He also suggested that these ideas might be included in the final
package assembled by Congress’s deficit reduction committee, the
so-called Super Committee.

Congress’s deficit reduction committee is charged to submit a $1.5
trillion deficit reduction package by Nov. 23.

** Market News International Washington Bureau: (202) 371-2121 **

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