On the recordOctober 11, 2011
this evening, the Senate will vote on legislation to end the unfair practice of currency manipulation by the Chinese Government. It is pretty clear by now that China undervalues its currency to give its own exports an unwarranted advantage in the global marketplace. This costs American jobs--lots of them. It costs lots of jobs by unjustly tilting the playing field against American manufacturers. America's trade deficit with China has ballooned from $10 billion in 1990 to $273 billion today. It has cost 3 million American jobs already. Two million of those lost jobs came from the manufacturing sector. American businesses do not need special advantages to compete. They just need an even playing field. Tonight we have the opportunity to stop China from continuing to cheat American workers, pump $300 billion into our economy, and support 1.6 million Americans jobs. This legislation has twice advanced in this Chamber with bipartisan supermajorities. Thirty-one Republicans voted to move this legislation to the Senate floor early last week. I urge each of them to stand firm in their support for this job-creating legislation--to stand with American workers rather than siding with China. I remind my Republican colleagues that those who revoke support of this important measure for the sake of partisan politics must answer, first of all, as we all do, to our constituents.…





