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Office of the Press Secretary

For Immediate Release November 29, 1994

Statement by the President

Tonight, the United States House of Representatives cast an historic vote for American workers, farmers and families. This overwhelming bipartisan vote in support of the GATT legislation demonstrates our confidence in America's ability to compete and win in the global economy.

Passage of the Uruguay Round will provide enormous benefits for the United States: hundreds of thousands of new U.S. jobs, $100-200 billion per year in increased GDP, and a $744 billion global tax cut.

This vote demonstrates to the American people that Democrats and Republicans can work together in the national interest. The Uruguay Round agreement is the product of eight years of work by three administrations -- Republican and Democratic. A strong majority of each party cast votes in favor of the agreement.

The eyes of the world are now on the United States Senate. I call on the Senate to pass GATT with the same strong, bipartisan support as it received in the House of Representatives.