Bipartisan Senate Effort over Chinese Currency

Bipartisan Senate Effort over Chinese Currency

After Tuesday’s Senate vote to pressure China to allow their currency to rise, Senators from both sides of the aisle urged the U.S. House and the Obama Administration to take up the measure.  Senator Debbie Stabenow (D-MI) was quoted in a Washington Post article saying, “Allow the House to work its will on this issue, because we’re very confident that there would be a strong bipartisan vote if the House is allowed to vote on this issue.”

The White House has yet to issue a statement on its policy regarding Chinese currency; however, White House Press Secretary Jay Carney said Wednesday, “As I’ve said and others, we share the goal of the legislation in taking action in making sure that our workers and companies have a level playing field with China.  Aspects of the legislation do, as I’ve said, raise concerns about consistency with our international obligations, which is why we’re in the process of addressing with Congress those issues. And if this legislation were to advance, we would expect those concerns to be addressed.”

Several U.S. House leaders have echoed the same concerns in recent weeks and months but Senator Lindsey Graham (R-SC) said, “To the president: We need you.  Now’s the time to lead. … An open invitation to the president: if you can make this better, we’re all willing to accept adjustment.”

Republican contenders for the White House spoke about this very issue Tuesday night in New Hampshire.  Watch the Washington Post video.

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