North American Investment Fund Act

marcmc99 · Jul 13, 2006

Introduced June 29 by Senator John Cornyn, a republican from Texas. Let's see, first, he wants the American taxpayer to help pay for roads, education, and communications in Mexico. I guess they figure the government is doing such a great job spending our money to fund these things in our own country, what the hell, we oughta expand our expertise to help out the poor pitiful Mexicans. But, at least under this plan, we force the Mexican government to double the taxes it levies on its citizens. :dis: You gotta be kidding me. :cuss:

Link

A few of the highlights:

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.
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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.
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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.
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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.
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TigerKid05 · Jul 13, 2006

Yeah....the only way I would support this in the least bit if if the school that my tax dollars were going to taught them english.

What the hell is Cornyn's deal?!?!?!

CParso · Jul 13, 2006

Mexico vitally needs the infrastructure that this bill mentions, and while it would benefit the American economy some to finance it, I am in no way in favor of having my taxes pay for such a thing.

NoLimitMD · Jul 13, 2006

A keyboard is incapable of capturing my rage on this topic.

OkieTigerTK · Jul 16, 2006

Wow. Talk about pandering to the hispanic voters in Texas!:shock:

Broke · Jul 18, 2006

Robin Hood, Robin Hood, where for art thou??

marcmc99 · Jul 19, 2006

I'm still ticked off about this. Folks like this Cornyn guy scare me a little. Good ole boy politics at it's finest, and the American public really has no clue what these people are trying to get pushed through. Looked at his website. On the surface, he looks like an all-American republican. Funny that I can't find where he mentions this little piece of legislation on his site. Did see this though. What a joke.

Link

Throughout my years of public service, I have championed openness and transparency in government because I believe that the American people are in charge of our government and have a right to know what their government is doing.
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Link

John Cornyn, of San Antonio, is a voice for Texas values in Washington. He was sworn in to the U.S. Senate on December 2, 2002, succeeding Phil Gramm.

After just one year in the Senate, John Cornyn was chosen by leadership to serve as a Deputy Whip. As a member of the Whip team, he helps mobilize votes and support on major issues. Sen. Cornyn serves on five key Senate committees: Armed Services; Judiciary; Budget; Small Business and Entrepreneurship; and the Joint Economic Committee. He chairs the Judiciary Committee’s subcommittee on Immigration, Border Security and Citizenship and the Armed Services Committee’s subcommittee on Emerging Threats and Capabilities.

In addition to his legislative committees, Sen. Cornyn is the chairman of the Senate India Caucus, vice chairman of the Senate Republican Conference Task Force on Hispanic Affairs, vice chairman of the Congressional Sportsmen’s Caucus, and a member of the Senate Republican Task Force on Health Care Costs and the Uninsured, the Senate Republican High Tech Task Force, Congressional Oversight Group on Trade, and the President’s Export Council.While in the Senate, John Cornyn has received various awards and recognitions, including the 2005 Border Texan of the Year Award; the National Child Support Enforcement Association's Children's Champion Award; the American Farm Bureau Federation's Friend of Farm Bureau Award; the Texas Association of Business's Fighter for Free Enterprise Award; and the Texas Association of Mexican American Chambers of Commerce's (TAMACC) International Leadership Legislative Award; among others.

As Texas Attorney General from 1999-2002, John Cornyn directed many initiatives vital to the interests of Texas families. Cornyn served for six years as a District Court Judge in San Antonio before being elected to the Texas Supreme Court in 1990, where he served for seven years.
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LSUfan71 · Jul 24, 2006

I don't like it either but I can see where it makes some sense. Mexico will continue as a 3rd world country for the foreseeable future. Gettin them kickstarted might be cheaper than building a wall and giving the "immigrants" welfare for the next 300 years. Who knows, maybe we can finaggle them out of their oil fields.

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North American Investment Fund Act

marcmc99 Founding Member

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