By Andrea Salazar
Sen. Sherrod Brown (D-Ohio) described his Chinese currency manipulation bill as the most important jobs bill in Congress this year.
“China manipulates its currency so Chinese companies can make and sell Chinese products cheaper, much cheaper than U.S. companies can,” Brown said during a conference call with reporters on Wednesday.
To change that, Brown introduced the Currency Exchange Rate Oversight Bill with co-sponsors from both parties. Pointing out that U.S. workers are losing their jobs to China, Brown said that “Uncle Sam’s turned into Uncle Sap, and it’s time we fight back.”
A vote is expected in the Senate within the next week.
“This bill doesn’t cost tax payer dollars, it actually will help reduce the budget deficit. So other than those who want to stand with companies that outsource jobs to China, I don’t see where any real opposition to this bill should come from,” Brown said.
However, Speaker of the House John Boehner (R-Ohio) dismissed the need for the bill.
“I think its pretty dangerous to be moving legislation through the United States Congress forcing someone to deal with the value of their currency,” he said earlier this week.
Originally for Talk Radio News Service.
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