"Legislation to reauthorize Trade Promotion Authority (TPA)--sometimes called 'fast track,'-- the Bipartisan Congressional Trade Priorities and Accountability Act of 2015 (TPA-2015), was signed into law by President Obama on June 29, 2015 (P.L. 114-26). [...] TPA-2015 applies to trade agreements reached before July 1, 2018, with a possible extension to July 1, 2021. The United States is now engaged in renegotiation of the North American Free Trade Agreement (NAFTA), for which TPA could be used to consider implementing legislation. The issue of TPA reauthorization raises a number of questions regarding TPA itself and the pending legislation. This report addresses a number of those questions that are frequently asked, including the following: What is trade promotion authority? Is TPA necessary? What are trade negotiating objectives and how are they reflected in TPA statutes? What requirements does Congress impose on the President under TPA? Does TPA affect congressional authority on trade policy?"
CRS Report for Congress, R43491
Federation of American Scientists: http://www.fas.org/sgp/crs/index.html