Today, Congressman Joe Donnelly submitted testimony regarding the Chinese government's policy of currency manipulation to the House Ways and Means Committee. The Committee was hosting U.S. Treasury Secretary Timothy Geithner to discuss what action Congress and the administration may need to take to address China's exchange rate policy.
"When I visit with businesses and manufacturers in north central Indiana, they ask to be able to compete on a level playing field," Donnelly wrote in his testimony. "They ask that China be held accountable for its unfair currency policy. They do not understand why our government has not stood up to China to defend our local businesses--and frankly, neither do I."
"Our top priority is job creation, and we will go a long way toward protecting and creating jobs in north central Indiana and across the nation by establishing a marketplace that gives our American businesses a fair fight," Donnelly continued. "We have seen too many good jobs go overseas because of unfair trade practices, and it is time that Congress and the administration act."