Requesting the lieutenant governor and speaker to create a joint interim committee to study the impact of any proposals by the federal government to alter or abrogate NAFTA.
The resolution stresses that the Texas economy is particularly vulnerable to changes in NAFTA, given the state's extensive trade relations with Mexico. Exports from Texas to Mexico reached $92.5 billion in 2015, with numerous jobs reliant on this cross-border trade. The study proposed in the resolution aims to safeguard Texas's economic interests by understanding the ramifications of potential modifications to NAFTA and ensuring that state decisions are informed by thorough research.
HCR103 requests the creation of a joint interim committee by the lieutenant governor and the speaker of the House of Representatives to study the potential impact of any federal proposals that may alter or abrogate the North American Free Trade Agreement (NAFTA). The resolution highlights the historical importance of NAFTA since its implementation in 1994, noting its significant contribution to economic integration among the United States, Mexico, and Canada. Supporters of the resolution emphasize that NAFTA has led to a substantial increase in regional trade, job creation, and a positive influence on the cost of living within Texas.
The sentiment surrounding HCR103 appears supportive, particularly among lawmakers who recognize the necessity of investigating any shifts in federal trade policies that could adversely affect Texas's economy. Given the statistics presented regarding Texas's trade dependence on Mexico and the broader potential implications for jobs and cost of living, it is evident that there is a consensus on the importance of such oversight.
While HCR103 does not directly initiate specific legislative changes, it does reflect concerns over federal policy shifts that could disrupt the established trade framework provided by NAFTA. There could be contention regarding the committee's scope, the measures it will propose following its findings, and potential disagreements about the federal government's role in state economic matters. The discussions within the interim committee could lead to differing opinions on how to protect Texas's interests in an evolving trade landscape.