Katie Porter: “Mr. Speaker, for the first time since World War II, there is a currency developing that could become a significant…”

“Mr. Speaker, for the first time since World War II, there is a currency developing that could become a significant reserve currency for the world, in competition with the U.S. dollar. This currency is the Euro. The dominance of the dollar as the world's premier reserve currency has a measurably positive impact on the U.S. Federal budget and on our economy as a whole. That dominance must be protected and preserved. The dollar's position has been secured in part by high confidence in its soundness. Our currency handling industry has produced technology to count and flawlessly scan for counterfeits at high speeds. But, there is danger of that soundness being challenged because of unfair foreign competition.”