Think the merging of North America is all hype? Feast your eyes on this!
As published in this week’s Plain Talk from the Texas Hill Country newsletter by Jim McGrody
Overview of SB 3622
On June 29, 2006, Sen. John Cornyn (R-TX) introduced SB 3622 – a bill to authorize the creation of the North American Investment Fund between the governments of Canada, Mexico, and the United States to increase the economic competitiveness of North America in a global economy.
The purpose of the bill shall be:
• to increase the economic competitiveness of North America in a global economy
• to reduce the income gap between Mexico and Canada, and between Mexico and the United States
• to promote economic development in Mexico in the areas of infrastructure, education, technology, and job training
In general, grants shall be awarded from the Fund for projects to carry out the purposes of the Bill, including projects-
• to construct roads in Mexico to facilitate trade between Mexico and Canada, and Mexico and the United States
• to encourage the development and improve the quality of primary, secondary, and post-secondary education throughout Mexico
• to expand the deployment of communications and broadband infrastructure throughout Mexico, with emphasis on rural and underserved areas and, to expand job training and workforce development for high-growth industries in Mexico.
The agreement shall require the governments of Canada, of Mexico, and of the United States to contribute to the Fund. Canada and the United States will contribute to the Fund if the Government of Mexico – 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 carries out a program of reforms to increase private investment and economic growth, reduce poverty, and maintain economic stability in Mexico.
You can read the complete bill by clicking here…
Background Reading – The Council On Foreign Relations
North America is vulnerable on several fronts: the region faces terrorist and criminal security threats, increased economic competition from abroad, and uneven economic development at home. In response to these challenges, a trinational, Independent Task Force on the Future of North America has developed a roadmap to promote North American security and advance the well-being of citizens of all three countries.
When the leaders of Canada, Mexico, and the United States met in Texas recently they underscored the deep ties and shared principles of the three countries. The Council-sponsored Task Force applauds the announced “Security and Prosperity Partnership of North America,” but proposes a more ambitious vision of a new community by 2010 and specific recommendations on how to achieve it.