Senators Take Action to Punish Currency Manipulators

By Taylor Garland

Sen. Sherrod Brown (D-OH) and Sen. Jeff Sessions (R-AL) introduced the Currency Exchange Rate Oversight Reform Act to reform and enhance oversight of currency exchange rates. The bill would use U.S. trade law to punish countries such as China that cause economic harm to U.S. manufacturers and workers by manipulating its currency.

Said Senators Brown and Sessions:

We believe it is time to develop a comprehensive national strategy for fighting currency manipulation and leveling the playing field for American workers and businesses.…We believe our bill, the Currency Exchange Rate Oversight Reform Act, is a critical component of any national effort to address China’s currency manipulation, and we will push for a vote on it in Congress this year.

To date, 20 senators have joined Brown and Sessions.

Why? Research suggests that ending global currency manipulation could create millions of jobs in the American economy. Tell your senators to get tough on China’s currency manipulation.

Currency Exchange Rate Oversight Reform Act (S. 1114) Cosponsors

Northeast: Connecticut: Sen. Christopher S. Murphy; Maine: Sen. Susan M. Collins, Sen. Angus S. King Jr.; New York: Sen. Charles E. Schumer; Pennsylvania: Sen. Robert P. Casey Jr.; Rhode Island: Sen. Jack Reed, Sen. Sheldon Whitehouse; Vermont: Sen. Bernard Sanders.

South: Alabama: Sen. Jeff Sessions; Georgia: Sen. Saxby Chambliss; North Carolina: Sen. Richard Burr, Sen. Kay Hagan; South Carolina: Sen. Lindsey Graham; West Virginia: Sen. Joe Manchin, Sen. John D. Rockefeller.

Midwest: Indiana: Sen. Joe Donnelly; Michigan: Sen. Carl Levin, Sen. Debbie Stabenow; Ohio: Sen. Sherrod Brown; Wisconsin: Sen. Tammy Baldwin.