Larson Calls for Action on China Currency Reform and other Job Creation Bills
WASHINGTON – Today, House Democratic Caucus Chairman John B. Larson (CT) joined Ways and Means Committee Ranking Member Sander Levin (MI) and other Committee Democrats to call for House action on H.R. 639, the Currency Reform for Fair Trade Act, which would rein in China's currency manipulation, which costs one-million plus American jobs, according to numerous economists.
The full press conference video and an excerpt of Chairman Larson’s remarks are below:
“I visited China this past year and I commend the Chinese. They’re very proud of the fact that they’ve lifted over 300 million people out of poverty. We’ve had many good discussions with the Chinese as relates to trade.
“Where it all breaks down is on this issue of currency manipulation. And so, that’s why this legislation - and I commend Chairman Levin, and the ranking person, Jim McDermott, for their tireless efforts on our behalf – to make sure that we level the playing field.
“You’ve all heard them quote Paul Krugman, who points out that this is about 1.5 million jobs that are at stake here. I, like Jim, am astonished that the Senate finally acts on anything, and with that kind of a margin, that bodes well for us getting something done here on behalf of the American people, and certainly at this time with 14 million Americans out of work, 25 million Americans underemployed, now is the time to act.
“We should be bringing up this bill. Frankly, we should be taking up the President’s bill. We could be doing that tomorrow- it has wide bipartisan support.
“I hope the press continues to ask our colleagues on the other side of the aisle: ‘why won’t you take up the job creation bills?’ Job creation equals deficit reduction.”