Transcript: Sen. Chuck Schumer’s remarks on the Democrats’ “Better Deal” economic agenda
Partial transcript of Sen. Chuck Schumer’s (D-New York) remarks on the Senate Democrats’ “Better Deal” economic agenda. The press briefing was held on Aug. 2, 2017:
Well, thank you and my colleagues for their great work.
Everyone of these people who you heard spoke – or speak – puts American workers first.
American workers first.
Now, last week in Barryville, we Democrats began to offer a better deal to the American people.
The better deal promises three things.
First, higher wages and better jobs.
Second, lower everyday expenses.
Third, the tools workers need to succeed in the 21st century.
Now, nothing – nothing is more central to creating jobs and increasing take-home than re-writing our backward trade laws that have put foreign workers ahead of American workers, that have put big multinational corporations ahead of the needs of hardworking, average American families.
For far too long, our trade laws have given multi-national corporations and foreign competitors a leg up on the American worker. They put the corporate bottom line ahead of the worker’s bottom line.
Today, we Democrats are proposing a better deal for workers with tough, tough trade laws that finally, finally put American workers first.
In addition to the ideas my colleagues have laid out, today, we’re also calling for the creation of an American jobs security council.
Right now, foreign countries buy up the best of American companies but they have to get approval from something called CFIUS – that’s the Committee on Foreign Investment in the United States.
CFIUS has to certify that the proposed deal doesn’t harm our national security.
But no one ever checks if it hurts our economic security – the jobs and incomes that workers need. That’s where the American Jobs Security Council comes in.
The panel of economic experts would be empowered to block foreign companies if their attempt to buy an American company would hurt American workers, potentially leading to the theft of American intellectual property or otherwise distort our markets.
Simply put, this Council has the power to slam the door shut on foreign companies who want to buy up American businesses and harm our workers.
China has made a profession of doing this. We’re not going to let them do it anymore.
We’re not opposed to foreign investment. But we’re opposed to foreign investment that only benefits the bottom line and leaves workers out in the cold.
We’re opposed to foreign investments when certain countries like China do not allow reciprocal access to American companies in their country.
We know that China is trying to buy up and dominate the critical industries where America has been dominant, from semi-conductors to robotics to steel.
We need to revamp our trade laws from top to bottom and provide a better deal for American workers.
We have a tough, tough seven-point plan.
As you’ve heard, an independent trade prosecutor to go after companies that are not fair and are outsourcing jobs overseas to countries that are coming in like China and being unfair to Americans.
The Jobs Security Council, which I mentioned.
NAFTA – making it really work for people, instead of working for companies and outsourcing jobs.
Penalties for contractors that outsource jobs.
Buy American provisions.
Crack down on companies that manipulate their currency and outsourcing tax for companies leaving the U.S.
We do these seven things, it’s a new day for American workers. Their incomes will go up. The number of good-paying jobs will go up. And we’re going to do it under a better deal because we want a better deal for American workers…