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McIntyre presses for jobs
Story Date: 7/8/2011
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Source: PRESS RELEASE, 7/7/11
Today, Rep. Mike McIntyre is taking action to force a vote on bipartisan job creating legislation that would pressure China to play by the rules of fair trade -- providing our government with effective tools to address unfair currency manipulation. McIntyre joined his colleagues in signing a discharge petition to bring up The Currency Reform for Fair Trade Act.
“It is time to do all we can to create jobs, so I am signing a discharge petition to force the House Congressional Leadership to allow a vote on the Currency Reform for Fair Trade Act,” stated Rep. McIntyre. “Part of our Make It In America agenda, this bipartisan measure could help create anywhere from half a million to more than 2 million jobs and would enhance our economic and national security, at no cost to American taxpayers.”
The Currency Reform for Fair Trade Act (H.R. 639) will help American businesses compete on a more level playing field by treating fundamentally undervalued currencies as a prohibited subsidy, allowing the U.S. to take action to counter this unfair trade practice. This legislation is an essential element in addressing currency manipulation by the Chinese government that has jeopardized efforts to create and preserve U.S. manufacturing jobs.
McIntyre continued, “This is about supporting American companies and American manufacturers. For too long China has gotten away with manipulating its currency to decrease the price of its goods on the world market. “I believe American products can and will compete and we’ll see a resurgence in exports and jobs here in America when we make our trading partners play on fair ground.”
The Chinese government continues to intervene in the markets to suppress the value of its currency – making American exports more expensive and Chinese products cheaper. A new report confirms that up to 2 million American jobs could be created if China and other Asian countries stopped manipulating their currency to gain an unfair advantage over American businesses and workers.
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