Sen. Sherrod BrownSherrod BrownDemocrats press Wells Fargo CEO for more answers on scandal Brent Budowsky: Sanders and Warren shine Lawmakers play catch-up as smartphone banking surges MORE (D-Ohio) urged Congress to pass his bill that aims to stop other countries from manipulating their currency.
“As the Chinese government continues to push down the value of the yuan, the urgency for passing our bipartisan bill addressing currency manipulation rises,” Brown said Thursday in a press release. “We can create millions of jobs — without adding a dime to the deficit — by fighting back when our trading partners cheat.”
S. 1114 would punish trading partners that fail to adopt policies to end currency manipulation. Brown said currency manipulation unfairly gives other countries a price advantage and therefore harms U.S. manufacturing workers who can’t compete with China’s low prices.
“Ending currency manipulation could create 5.8 million jobs for Americans,” Brown said. “Congress should stand up for American workers by passing our bipartisan bill.”