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Congressman Paul Tonko is joining other members of Congress in pushing to force a vote on bipartisan job creating legislation that would pressure China to play by the rules of fair trade -- providing our government with effective tools to address unfair currency manipulation. Congressman Tonko has signed a discharge petition to force a vote on The Currency Reform for Fair Trade Act (H.R. 639), a bipartisan measure that would help American businesses compete on a more level playing field.

“It is time for action in Washington to create good paying jobs here in America, so I am signing a discharge petition to force the Republican Leadership to allow a vote on the Currency Reform for Fair Trade Act,” said Congressman Tonko.  “Part of our Make It In America agenda, this bipartisan measure could help create anywhere from half a million to more than 2 million jobs and would enhance our economic and national security, at no cost to American taxpayers.” 

The Currency Reform for Fair Trade Act (H.R. 639) will help American businesses by treating fundamentally undervalued currencies as a prohibited subsidy, allowing the U.S. to take action to counter this unfair trade practice. This legislation is an essential element in addressing currency manipulation by the Chinese government that has jeopardized efforts to create and preserve U.S. manufacturing jobs. 

Democrats are launching this discharge petition, which can force action on legislation with signatures of a majority of the House of Representatives, because the Republican Leadership continues to block its consideration. The legislation overwhelmingly passed the House of Representatives 348-79 last year. Congressman Tonko voted for the measure, and co-sponsored a previous version of the bill that was introduced in 2009.

Congressman Tonko is also a member of the House Fair Trade Working Group, where he has been advocating for smarter trade policies that will protect and grow jobs here in America and keep us competitive in the global market.

“This is about supporting American companies and American manufacturers.  For too long China has gotten away with manipulating its currency to decrease the price of its goods on the world market,” added Congressman Tonko. “I believe American products can and will compete and we’ll see resurgence in exports and jobs here in America when we make our trading partners play on fair ground.”

The Chinese government continues to intervene in the markets to suppress the value of its currency – making American exports more expensive and Chinese products cheaper.   A new report confirms that up to 2 million American jobs could be created if China and other Asian countries stopped manipulating their currency to gain an unfair advantage over American businesses and workers. 

This legislation is part of House Democrats’ “Make it in America” manufacturing strategy to create the high-skill, high-wage jobs of the future—promoting American competitiveness, innovation, and exports.  

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