On the recordOctober 3, 2011
Mr. President, I rise today in strong support of S. 1619, the Currency Exchange Rate Oversight Reform Act. First, I want to say this bill is the culmination of years of hard work and collaboration between Democrats and Republicans. I thank Senator Lindsey Graham of South Carolina. He and I have been partners in this endeavor for over 5 years. We have traveled to China together. We have worked long and hard to try to gain some fairness in the way China treats American industry, particularly in regards to currency. I thank Senator Sherrod Brown and Senator Debbie Stabenow. Both made very valuable additions to the proposal on the Senate floor today. In fact, Senator Brown is the lead sponsor of this legislation because of the strong and good work he has done. They both have worked long and hard, realizing the industries in their States are at such a competitive disadvantage. I thank my colleague, Jeff Sessions, as well, who has been one of our partners and leaders on this legislation over the last several months, and lead sponsors in addition: Bob Casey, Olympia Snowe, Jeff Sessions, Kay Hagan, and Richard Burr, as well as dozens of other cosponsors on this bill for their work on this issue for many years. I also want to particularly express my appreciation to Chairman Max Baucus and former ranking member of the Finance Committee Chuck Grassley for their leadership and work on currency manipulation.…
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