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Public Statements

Providing for Consideration of H.R. 2930, Entrepreneur Access to Capital Act, and Providing for Consideration of H.R. 2940, Access to Capital for Job Creators Act

Floor Speech

By:
Date:
Location: Washington, DC

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Mr. PASCRELL. I rise in strong support of the motion so that we can amend the rule and provide for the consideration of a bill that will create over 1 million jobs, the Currency Reform for Fair Trade Act. The floor schedule of the House has long been determined by the majority leader. Everybody knows that.

I'd hope that the majority leader would therefore represent what is the majority of our Members, 230 Members who cosponsored the bill--that's not so bad--and schedule it for a vote.

We quite simply can't afford to wait any longer. China's currency manipulation has a devastating impact on manufacturing and other industries across this country. This results in Chinese exports being up to 30 percent cheaper in America. Now you know where the problem is. Now you know what's hurting American industries. Conversely, our exports are being more expensive in China. Estimates vary, but economists believe that this manipulation reduces unemployment by no more than 1 million to 1 1/2 million.

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Mr. PASCRELL. We are out of excuses, Mr. Speaker. We really are.

We've got support from both sides of the aisle on this. There are over 14 million people unemployed in America. The bill costs nothing to the taxpayer. This is amazing that we're putting something before the House that won't cost us any money. No taxes. The Senate has already passed the bill--bipartisan, huge numbers, margin. They're 235 bipartisan cosponsors in our institution here. This legislation passed with over 350 votes. No excuses, Mr. Speaker.

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