The Nancy Pelosi led House of Representatives has passed Hr 2378. The passage was fairly bipartisan.
Great job, Nancy!
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Wow! The Rec List - typos and all! Now that really shows the power of Nancy Pelosi!
H.R. 2378: Currency Reform for Fair Trade Act
111th Congress
To amend title VII of the Tariff Act of 1930 to clarify that fundamental exchange-rate misalignment by any foreign nation is actionable under United States countervailing and antidumping duty laws, and for other purposes.
http://www.govtrack.us/...
In short, this bill would allow the United States to add tariffs to goods imported into the United States from countries that undervalue their currency in an effort to dump their cheap products into the world market. Bascially, this bill says "go screw yourself, China!"
The bill has just passed the House of Representatives. The passage was fairly bipartisan.
The future belongs to the party that will stand up and fight for American workers. Nancy Pelosi has taken a giant step to make the Democrats that party.
The question now is will the bill ever get a vote in the Senate? And, if it does, how watered down will the weak kneed Reid led Democrats render it?
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While the vote is taking place, you can read this:
AAM Urges Support for H.R. 2378, the Currency Reform for Fair Trade Act.
The Alliance for American Manufacturing (AAM) strongly supports effective legislation to curb the damaging impact of China’s continuing currency manipulation.
AAM is urging support for H.R. 2378, the Currency Reform for Fair Trade Act, as amended last week by the House Ways and Means Committee, and has sent a letter to Members of the House Representatives.
http://manufacturethis.org/...
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Urgent Action Needed to Stop Currency Manipulation
by James Parks, Sep 15, 2010
It’s no secret that the Chinese government’s currency manipulation policy has caused the loss of millions of manufacturing jobs. But the question is whether the federal government has the will to act "to level the playing field and provide the support and assistance that millions of American workers and their communities expect and deserve," United Steelworkers (USW) President Leo W. Gerard said today.
Testifying before the U.S. House Ways and Means Committee this morning, Gerard said passing the Currency Reform for Fair Trade Act (H.R. 2378) would be a vital first step to begin the process of economic recovery. The bill would give the U.S. Treasury Department new tools to combat currency manipulation.
http://blog.aflcio.org/...