On the recordOctober 12, 2011
I want everybody to know what this is. This is a bill on currency. This is the opportunity for people to once again stand up and be counted. This is the bill that passed last year 349-79, with 99 Republicans supporting it. This is the House bill that has 225 cosponsors. More than 60 are Republicans. It's clear that China's currency manipulation is a major cause of hundreds of thousands of lost manufacturing jobs, and imports from China are about half of that. So we're talking about 1 million jobs, at the least. What is also clear is that the manipulation of currency tilts the playing field in favor of China at least 25 percent, and it's not getting better. China's currency manipulation isn't the only cause of that deficit and loss of jobs. But because it's not the only cause doesn't mean we should address it. It's a major one. It's clear we haven't been effectively confronting China on this issue, and China pushes ahead. So in a few words, the time has come for action. Eight years of talk have yielded very meager results. As said, this has broad bipartisan support. And to make it utterly clear, last night the Senate passed a bill on currency by 63-35. Sixteen Republican Senators supported it. This will not kill the bill. It will not send it back to committee. If adopted, the bill will immediately go to passage. So, as I said, now is the moment for all of us to be counted, to stand up and be counted. No excuses.…





