On the recordOctober 14, 2011
We need to follow the Senate's lead in passing legislation that will pressure China to stop their unfair monetary policy. China's manipulation of their currency has cost us jobs in Connecticut and around the country. Our workers and businesses deserve a level playing field, and this bill will help ensure that. Since China joined the WTO, our trade deficit from China has risen from $84 billion to $270 billion. In that same period of time, Connecticut, my home State, has lost 31,000 jobs, and our country has lost 2.8 million jobs, 1.9 million of them in manufacturing. Companies throughout Connecticut, like HABCO, Incorporated, are demanding that we finally do something about these unfair practices that subsidize Chinese exports. Everyone from the manufacturers that I have surveyed to the people I run into at grocery stores understands that China is cheating on their currency. With more than 160,000 people in Connecticut out of work, it is long past time for the leadership of this House to allow a vote on this floor on legislation to take China to task for their unfair practices and to strengthen American workers and businesses. Let's pass this jobs-creating legislation now. ____________________
