NEWTON FALLS - Two elected federal lawmakers brought their case for action against Chinese currency manipulation to a Newton Falls company Monday.
During a visit to Venture Plastics, U.S. Rep. Timothy J. Ryan, D-Niles, and U.S. Sen. Sherrod Brown, D-Ohio, urged House of Representatives to act on a bill they said would create and protect jobs by "cracking down on Chinese currency manipulation."
Brown and Ryan joined Steve Trapp, president of the 150-worker company, to outline how legislation will help level the playing field for Ohio manufacturers while helping create and protect millions of American jobs.
The legislation enjoys wide bi-partisan support in this Congress, but House leadership has refused to bring the bill to the floor for a vote so it can be sent to President Obama to be signed, they said.
Ryan, whose Chinese currency bill overwhelmingly passed the U.S. House last year, noted in a statement the nation has lost more than 2.8 million jobs because of currency manipulation, including 100,000 in Ohio, according the Economic Policy Institute.
He said the Currency Exchange Rate Oversight Reform Act of 2011 "addresses issues that have been dragging down our economy and manufacturing sector for years, and will put us on a path to recovery."
Addressing Chinese currency manipulation could support the creation of 2.25 million American jobs, according to a report by the economic institute.
Brown noted some lawmakers have expressed concerns that a currency bill could start at trade war with China, something the Chinese warned about after Brown's bill cleared the Senate on Oct. 11 by a vote of 63-35.
"We're already in a trade war," Brown said in a statement. "We cannot stand by and watch any longer as our factories close down and entire communities undergo total devastation We must equip the Obama Administration with the tools it needs to crack down on China's currency manipulation and help level the playing field for American businesses."
To read the rest of the article, click on the source link above.Area lawmakers urge action against China »