Senators reach agreement on fast-track trade bill sought by Obama

President Obama
(Image credit: Chip Somodevilla/Getty Images)

Key lawmakers on Thursday announced they had reached a deal on a bill to grant President Obama broad authority to advance what could be the nation's largest free trade agreement in two decades.

The trade promotion authority bill — known informally as "fast track" legislation — would allow the president to ask Congress for a simple up or down vote on a final 12-nation Pacific trade pact. If approved by Congress, the trade deal would be the biggest since the North American Free Trade Agreement of 1994.

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Jon Terbush

Jon Terbush is an associate editor at TheWeek.com covering politics, sports, and other things he finds interesting. He has previously written for Talking Points Memo, Raw Story, and Business Insider.