U.S. Senate leaders have agreed on a path to approve a displaced worker aid bill that would pave the way for a vote on three long-stalled free trade agreements with South Korea, Colombia and Panama.
Senate Majority Leader Harry Reid and Minority Leader Mitch McConnell said they have agreed on a "path forward" to pass the controversial Trade Adjustment Assistance (TAA) program to help workers who lose their jobs because of foreign competition after Congress returns in September from its summer break.
This would be followed by votes on the three trade deals, each signed nearly five years ago.
The announcement comes just days after last-ditch legislation passed in Congress to raise the U.S. debt ceiling and avoid a federal default.
"My staff and McConnell's staff have been in discussions for weeks over the Trade Adjustment Assistance (TAA) program and the three outstanding FTAs," Reid said in a statement on Wednesday night.
"We believe those discussions have provided a path forward in the Senate after we return for passage of the bipartisan compromise on the Trade Adjustment Assistance program, followed by passage of the three FTAs," Reid said.
The U.S. Trade representative's Office and House of Representatives Speaker John Boehner praised the deal, saying that Reid and McConnell had "cleared an important hurdle."
