Next week in Congress will be an important one for businesses, farmers and Americans in general. Congress has an opportunity to help increase U.S. trade with Russia, the world’s sixth largest economy in terms of purchasing power, and to support economic growth and jobs right here at home. We respectfully request that you work together to schedule and pass the Russia PNTR legislation in the Senate and House before the August congressional recess.
Last week the legislation was approved 24-0 by the Senate Committee on Finance, and today it was approved by voice vote by the House Committee on Ways and Means. These back-to-back, strong bipartisan votes confirm what all of us in the business community already know—that passing the Russia PNTR legislation will be a major win for the U.S. economy and workers in the United States.
Next month Russia will join the World Trade Organization and start to significantly open its markets to other countries. Congress can either pass PNTR now so that, from the outset, the United States can fully benefit from better trade relations with Russia, or Congress can fail to act and put American companies and workers at a competitive disadvantage in Russia. That’s why your acting with a sense of urgency on this issue is so important.
U.S. economic growth and job creation must continue to be priorities. In support of those related goals, Senate and House floor action on Russia PNTR legislation next week would help ensure American companies, workers and farmers have a fair chance to compete and to sell their goods and services to Russia.
On behalf of Business Roundtable, we are committed to continuing to work with you and others in Congress to pass this important legislation now.
Douglas R. Oberhelman
Chairman and CEO, Caterpillar Inc.
Chair, BRT International Engagement Committee
W. James McNerney, Jr.
Chairman, President and CEO
The Boeing Company