SILICON VALLEY – June 24 -The Silicon Valley Leadership Group, with nearly 400-member companies primarily in the high-tech, bio-tech and social media business sectors, applauds the U.S. Senate for its bi-partisan action in support of the Trade Promotion Authority (TPA) reauthorization legislation that will now head to the President’s desk for his promised signature. Leadership Group member companies have offices in every state and were active in advocating for TPA reauthorization.
The innovation economy is uniquely impacted by trade. With 95 percent of the world’s consumer base outside the United States, U.S. technology companies rely on international trade and access to global markets. This reauthorization will help maintain American economic interests abroad and level the playing field for U.S. companies. Reauthorization of TPA also follows a strong precedent of more than 20 years of fast-track authority granted to the Administration and will result in the strongest possible trade agreements for our country.
“Thanks to Senator Dianne Feinstein and bi-partisan leadership in the U.S. Senate, 40 million Americans with jobs that are directly related to trade can sleep better tonight, knowing American goods and services can compete in overseas markets,” said Silicon Valley Leadership Group CEO Carl Guardino.
The Leadership Group praised House members last week, especially the 28 Democrats whose votes for reauthorization were crucial.
About the Silicon Valley Leadership Group
The Silicon Valley Leadership Group, founded in 1978 by David Packard of Hewlett-Packard, represents nearly 400 of Silicon Valley’s most respected employers on issues, programs and campaigns that affect the economic health and quality of life in Silicon Valley, including energy, transportation, education, housing, health care, tax policies, economic vitality and the environment. Leadership Group members collectively provide nearly one of every three private sector jobs in Silicon Valley and have more than $6 trillion in annual revenue.