Committee Assignment Offers Greater Role in Trade Debates

Recently I was honored to be named a member of the House Committee on Ways and Means. Chaired by Rep. Dave Camp (R-MI), the committee has jurisdiction over Social Security and Medicare, tax and revenue legislation, and trade matters.

This new assignment presents a tremendous opportunity to work to open up new markets for Nebraska farmers, ranchers, and manufacturers. Also, the Ways and Means Committee offers the chance to directly impact the Death Tax, which threatens our family farms and ranches, as well as advocate for Nebraska ag products.

On a personal level, this affords me the opportunity to bring Nebraska commonsense to the panel, while at the same time being an active voice for our state's agriculture producers.

This committee assignment puts me on the front lines in the debate on how to create jobs and economic growth. Unemployment rose to 9.8 percent in November and joblessness has now topped 9.5 percent for 16 straight months, the longest stretch since the Great Depression.

We have to do more to strengthen our economy and create jobs for the millions of Americans who are still looking for work. One tremendous opportunity is resolving the outstanding issues with the U.S.-South Korea trade agreement.

This agreement - reached earlier this month after previous discussions failed to yield a deal - could not come at a better time.

The trade agreement with South Korea - as well as similar agreements with Colombia and Panama - has gathered dust for too long, and the entire U.S. economy has suffered from a lack of action.

Every dollar in agricultural exports to South Korea generates $1.65 in further economic activity. Nebraska's $4 billion in worldwide agricultural exports translates into $6.7 billion in additional economic activity. This trade agreement offers new opportunities for Nebraska's farmers and ranchers to tap into South Korea's 49 million consumers. The agreement eliminates tariffs on U.S. agriculture exports to South Korea and lays out a framework to overcome other trade barriers.

American beef exports have increased by more than 120 percent in just a few years. Eliminating South Korea's existing 40 percent tariff will further boost beef exports, saving U.S. beef producers $90 million annually.

Overall, tariff reductions in this agreement are expected to increase American exports by up to $11 billion. It is also estimated this trade agreement will support at least 70,000 American jobs.

With tensions rising in East Asia, strong economic ties are more important than ever. This agreement will further solidify our commitment to our ally and encourage other countries to look to the United States as a trading partner - extending our influence into other areas of the globe.

South Korea is currently negotiating trade agreements with the European Union, Canada, Australia, and China. Further delay on our own trade agreement simply gives our international competitors more time and costs our farmers and ranchers market share.

There are still steps which need to be taken to do more to create jobs and economic opportunity for employers. As President Obama rightly said, we are working for trade agreements which "increase jobs and exports for the American people" while at the same time strengthening our foreign allies' economies. In the coming months trade issues are going to be front and center as we work to ratify trade agreements left in limbo. I look forward to working with my colleagues on the Ways and Means Committee to strengthen our economy by capitalizing on the trade opportunities available.