How the PRICED Act Delivers TPP Ratification (the Bullet Point Version)

by Crista Huff

 

The new PRICED Act removes a major Congressional objection to the Trans-Pacific Partnership (TPP) trade agreement, thereby facilitating the trade agreement’s ratification. Here’s what you need to know:

1.      U.S. law gives Big Pharma twelve years of patent exclusivity on their drug innovations … but the TPP only gives those same companies between five and eight years of biologic patent exclusivity. 

2.      The prospect of the biologic patent time period being dramatically reduced is the number one reason that the TPP does not have enough votes among Republicans to be ratified. All prior attempts to change this part of the TPP have failed. The TPP will not be renegotiated. Therefore, TPP supporters have found a creative way around the pharmaceutical objection to the TPP.

3.      On June 23, 2016 Rep. Jan Schakowsky (D-IL-09), who opposes the TPP, introduced legislation in the House of Representatives that shortens the period of patent exclusivity for U.S. biologics from 12 years to seven years, thereby removing the key Congressional objection to the TPP.

4.      The legislation is named the Price Relief, Innovation and Competition for Essential Drugs (PRICED) Act — or H.R. 5573 and S. 3094 respectively.

5.      U.S Senate co-sponsors of the legislation include Sen. John McCain (R-AZ), who supports the TPP and Sen. Sherrod Brown (D-OH), who is very open to trade deals, especially under a Hillary Clinton presidency.

6.      Senators McCain and Brown — quite possibly with the President’s assistance — have apparently convinced Rep. Schakowsky to introduce this legislation, knowing that Democrats will jump all over it. The Senators have done this because they know that this is their only path to turning a significant number of Republican TPP “NO” votes into “YES” votes. (All other attempts to solve the pharmaceutical problem in the TPP have failed. This is their last hope.)

7.      Shockingly, Rep. Rosa DeLauro (D-CT-03), the number one Democratic opponent to the TPP in the House of Representatives, has agreed to co-sponsor the PRICE Act. Does she not realize that by doing so, she is potentially ensuring the passage of the TPP?

…and here’s the longer version: 

Can Sen. McCain Clear This TPP Obstacle to Global Governance?

http://www.goodfellowllc.com/free-stock-market-content/sen-mccain-clear-tpp-obstacle-global-governance

 

I encourage all TPP opponents to take action now:

1. Express your opposition to both the PRICED Act and the TPP to your Congresspeople and Senators.

2. Contact Rep. Schakowsky’s and Rep. DeLauro’s offices. Ask them why they’re helping Senator John McCain pass  the TPP!

3. Help Dr. Kelli Ward (R) #RetireMcCain in the Arizona primary election on Tuesday, August 30.

4. Help Joan McCarthy Lasonde (R) defeat Rep. Jan Schakowsky (D-IL-09) in the Illinois general election.

We can defeat the TPP. Opponents to the trade deal are not behind in this contest, but we’re not far in the lead either. Keep the pressure on.

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Crista Huff is a stock market expert and a conservative political activist. She is the Chief Analyst at Cabot Undervalued Stocks Advisor; owner/operator of Goodfellow LLC, an outperforming stock market website; and she works with End Global Governance and issues groups to defeat the Trans-Pacific Partnership trade agreement. Send questions and comments to research@goodfellowllc.com.

 

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