Washington, D.C. – The Senate Finance Committee marked up the trade promotion authority bill Wednesday evening. During the markup several amendments were offered to level the playing field for American manufacturers and workers, including against foreign currency manipulation.
Commented Alliance for American Manufacturing (AAM) President Scott Paul:
“We applaud the strong, bipartisan majority of the Senate Finance Committee that stood up for American workers and manufacturing by supporting Senator Schumer’s currency manipulation amendment. The vote was an utter repudiation of the weak Obama administration approach on currency. We hope the House of Representatives and full Senate will also show their support for jobs through currency reform and we will be working hard with our allies to achieve that outcome.
“AAM is extremely disappointed that the committee failed to pass the amendment offered by Senators Portman and Stabenow to improve the currency manipulation negotiating objective as part of Trade Promotion Authority. There is no good reason to oppose a stronger negotiating objective on currency manipulation.”
Find more information on the Schumer amendment here and the Portman-Stabenow amendment here.