[Introducing S. 3622] Mr. President, I rise today to introduce legislation--previously introduced in the 108th Congress--which I believe is important to the long-term competitiveness of North America. And I would like to thank my distinguished colleague, Mr. COLEMAN, for his support and recognition of the value of this legislation. He is an original co-sponsor of the bill, and I look forward to working with him and others to ensure its success.
Currently, a significant development gap exists between Mexico and the United States and Canada. I believe it is in our best interests to find creative ways to bridge this development gap.
As my colleagues undoubtedly are aware, Mexico will elect a new President this weekend. When President Fox was elected in 2000 it was a watershed event for Mexico because the election was fair and the transfer of power was peaceful. I hope that the same fair, peaceful process takes place this weekend. So I wish all the candidates well and I look forward to working with the new Administration and the new Congress on issues of mutual importance to our countries.
Considered in the context of history, Mexico has--particularly within the past decade--made significant strides related to its system of government and its trade policies. However, much work remains to be done, and I think it is important that we explore ways to help our neighbor move their development efforts to the next level, to assist them as they continue on a path of prosperity and growth.
I have come to view the creation of a North American Investment Fund as both central to our relationship with Mexico and necessary to ensure the economic prosperity of North America as part of an ever-changing and growing global economy. I hope that this legislation will be a useful vehicle to help jump-start discussions on this very important topic.
My bill authorizes the President to negotiate the creation of a North American Investment Fund with the governments of Canada and Mexico. The fund can only be created if Mexico satisfies two conditions.
First, the Government of Mexico must raise tax revenue to 18 percent of the gross domestic product of Mexico. Their current tax rate is approximately 9 percent.
Second, Mexico must develop and execute a program of economic reforms to increase private investment and economic growth, while also maintaining economic stability in Mexico.
These steps are of the utmost importance because any lasting changes in Mexico must start from within.
The purpose of this fund is to reinforce efforts already underway in Mexico to ensure their own economic development. The funding would make grants available for projects to construct roads in Mexico to facilitate trade, to develop and expand their education programs, to build infrastructure for the deployment of communications services and to improve job training and workforce development for high-growth industries.
As I have mentioned on several occasions, I have heard from Mexico leaders who say they want desperately to "export goods and services, not people" to our country. Well, I think we all recognize that opportunity in one's home country and immigration are linked, and I believe we should be more involved in helping to promote the strength and stability of our neighbors.
Development provides a positive and stabilizing influence on economies, on government institutions, and also on immigration. We've seen, in past years, a steady flow of immigrants--particularly undocumented workers--coming across our borders. A vast number of these immigrants are here to work hard so they can send money home to their families and relatives. They may be well-intentioned, but at the same time, these hard workers are doing nothing to help their own economies.
Mexico does not want the most entrepreneurial members of its society to permanently leave. What it wants most of all is for economic development to grow in their region, so that citizens would have real opportunities to stay and grow the economy there. But with the entrepreneurs and risk-takers coming to the United States, Mexico cannot hope to improve its own economy.
Economic growth creates new jobs and raises incomes. This growth lifts people out of poverty even as it spurs positive economic reform. The potential for good is nearly limitless; as with such a fund we could spur sustainable development, strengthen private property rights, while also encouraging competition, regional integration, the open flow of technology.
So the best solution for all of us is a Mexico economy that is vibrant--and one important way is to ensure its continued development of infrastructure and resources. The legislation I am proposing today would encourage this development, and I urge my colleagues to support it.
I have no illusions that Congress will move quickly to approve the idea of a North American Investment Fund. In fact, I think it will likely take some time to make our case regarding the important role this fund would play in helping spur much-needed reforms in Mexico. But this investment in Mexico's future will only serve to contribute to a more stable and prosperous North America, which should be a goal we all work to actively support.
It is important that we consider not only what is immediately feasible, but also what is ultimately desirable--the ultimate goal--in terms of the relationship between our three countries, and so I urge my colleagues to cosponsor this important legislation.
The Bill itself and more in the extended section.
Cornyn's little gem! Pass it to every
single person who gives a damn.
new Senate Bill that was introduced by John Cornyn (TX) and Norm Coleman (MN) that would require US Taxpayers to fund infrastructure projects within Mexico. This is on top of the billions earned here by illegal aliens holding American jobs, that is sent back to Mexico, never to be seen or spent in America again!!! These guys are killing our economy, our jobs, our sovereignty, and they need to be exposed!
North American Investment Fund Act (Introduced in Senate)
S 3622 IS
109th CONGRESS
2d Session
S. 3622
To authorize the President to negotiate the creation of a North American Investment Fund between the Governments of Canada, of Mexico, and of the United States to increase the economic competitiveness of North America in a global economy.
IN THE SENATE OF THE UNITED STATES
June 29, 2006
Mr. CORNYN (for himself and Mr. COLEMAN) introduced the following bill; which was read twice and referred to the Committee on Foreign Relations
A BILL
To authorize the President to negotiate the creation of a North American Investment Fund between the Governments of Canada, of Mexico, and of the United States to increase the economic competitiveness of North America in a global economy.
Be it enacted by the Senate and House of Representatives of the United States of America in Congress assembled,
SECTION 1. SHORT TITLE.
This Act may be cited as the `North American Investment Fund Act'.
SEC. 2. ESTABLISHMENT OF THE NORTH AMERICAN INVESTMENT FUND.
The President is authorized to negotiate with the Government of Canada and the Government of Mexico to establish a North American Investment Fund (referred to in this Act as the `Fund') by--
(1) agreeing to certain amendments to the November 1993 Agreement Between the Government of the United States of America and the Government of the United Mexican States Concerning the Establishment of a Border Environment Cooperation Commission and a North American Development Bank; or
(2) negotiating an agreement with the Government of Canada and the Government of Mexico to establish and administer the Fund.
SEC. 3. PURPOSES.
The purposes of the Fund shall be--
(1) to increase the economic competitiveness of North America in a global economy;
(2) to reduce the income gap between Mexico and Canada, and between Mexico and the United States; and
(3) to promote economic development in Mexico in the areas of infrastructure, education, technology, and job training.
SEC. 4. PROJECTS FUNDED.
(a) In General- Grants shall be awarded from the Fund for projects to carry out the purposes described in section 3, including projects--
(1) to construct roads in Mexico to facilitate trade between Mexico and Canada, and Mexico and the United States;
(2) to encourage the development and improve the quality of primary, secondary, and post-secondary education throughout Mexico;
(3) to expand the deployment of communications and broadband infrastructure throughout Mexico, with emphasis on rural and underserved areas; and
(4) to expand job training and workforce development for high-growth industries in Mexico.
(b) Project Selection-
(1) IN GENERAL- The agreement described in section 2 shall include guidelines for determining which projects will receive financial assistance from the Fund.
(2) PRIORITY- In selecting grantees to carry out projects described in subsection (a)(1), priority should be given to projects in the interior and southern regions of Mexico that connect to more developed markets in the United States and Canada.
SEC. 5. CONTRIBUTIONS TO THE FUND.
(a) In General- The agreement described in section 2 shall require the Governments of Canada, of Mexico, and of the United States to contribute to the Fund, subject to the limitations under subsection (b).
(b) Limitations on Contributions by the United States and Canada- The agreement described in section 2 shall include provisions that permit Canada and the United States to contribute to the Fund if the Government of Mexico--
(1) increases the tax revenue collected by such Government, with the goal of annually collecting an amount of such revenue that is equal to 18 percent of the annual gross domestic product of Mexico; and
(2) carries out a program of reforms to increase private investment and economic growth, reduce poverty, and maintain economic stability in Mexico.
SEC. 6. TERM OF THE FUND.
The agreement described in section 2 shall require that the Fund--
(1) operate for an initial period of 10 years; and
(2) cease operations at the end of such 10-year period, unless the Governments of Canada, of Mexico, and of the United States agree to extend the period of operation beyond such initial period.
SEC. 7. REPORT.
Not later than 180 days after the date on which the Government of Mexico complies with the criteria described in paragraphs (1) and (2) of section 5(b), and once every 180 days after such date of compliance and before the finalization of the agreement described in section 2, the President shall submit a report to Congress detailing the progress made by the Government of the United States to establish the Fund in accordance with this Act.
{EDIT} And I got this email as I was creating this post.
What I sent before references the below:
You won't believe this!!!!!!!!!!!!!!!!!!!!!!!!!!!
Follow the link named "Click above link to read the charter of the Border Enviroment Cooperation Commission"
Then go to page 10 and read the authority for confidentiality and ... Go read Article IV...
...it gives them eminent domain privileges - A true multinational government!
Contributed by Zero Ponsdorf on July 18, 2006 at 09:26 PM in , , |
Comments
Posted by:
I'm confused as to who is "shaking down" whom here. Is this just an extension of NAFTA?
Are the new roads for commerce primarily to export more illegals?
Everyone should also remember that Republican Senator Norm Coleman was once the Democratic Mayor of St. Paul, MN.
And since when did the Republicans start using Clintonese such as "investment" instead of "more spending and/or taxes? It's getting harder to tell most of the Reps and Dems apart!
I thought Clinton was trying to sell the country. It apprears that the Republicans just want to give it away!
Posted by: | Jul 18, 2006 10:14:32 PM
Posted by: melissareed
First of all. YOU ARE WRONG. No where in the bill does it state that US tax dollars are being used. First of all I think we can all agree that the mexican government has a high level of corruption. Senator Cornyn would just like to up the tax and tarrifs on the goods coming into this country from 9% to 18%. Then take that extra 9% difference, and reinvest MEXICO’S OWN MONEY back into their society so that there are more jobs, and less immigrants coming across the border. Thus increasing more trade and help the US economy as well. Learn to read or don’t judge something you don’t understand. This is where people get miss guided because of sources like YOU!