Washington, D.C. -- Congresswoman Carol Shea-Porter today voted with the House of Representatives to address unfair trade practices of currency manipulation by foreign countries. The Currency Reform for Fair Trade Act (H.R. 2378) reverses a practice by the U.S. Commerce Department that prevented the Department from treating foreign government currency practices as an export subsidy. This bipartisan bill passed the House by a vote of 348 to 79.
"For years, China has manipulated its own currency, leading to the loss of U.S. manufacturing jobs and our large trade deficit," said Congresswoman Carol Shea-Porter. "This bill will help stimulate our manufacturing sector while keeping China and other countries honest in their trade practices."
On September 25, 2010, Congresswoman Shea-Porter cosigned a letter to House leadership urging that this bill be brought to the floor for a vote. Congresswoman Shea-Porter is a member of a number of working groups focused on advancing policies aimed at protecting and creating American jobs, supporting fair trade policies that create jobs in the U.S. instead of shipping them overseas, and supporting domestic policies that benefit and empower the middle class. Shea-Porter is a member of the House Trade Working Group and the Competitiveness Task Force, and is a founding member of the Populist Caucus.