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NCTO hails Bipartisan Committee Vote on China Currency Bill
30
Sep '10
The National Council of Textile Organizations (NCTO) hailed the passage of strong Chinese currency legislation by the House Ways and Means Committee as an essential step towards bringing textile and manufacturing jobs back to the United States.

NCTO President Cass Johnson stated, “Today, a bi-partisan Ways and Means Committee took the first step towards bringing textile and manufacturing jobs back to the United States and re-energizing our national recovery. We urge every member of Congress to vote for jobs in their districts by supporting H.R. 2378, the Currency Reform for Fair Trade Act, when it comes to a vote next week in the House.”

Johnson continued, “For the first time in a decade, U.S. textile mills are adding jobs and re-opening plants. If China were to allow its currency to rise to market levels, we believe the textile industry in the United States would add thousands of additional new jobs and build or re-open dozens of plants. This legislation is an essential step forward to revitalizing the U.S. textle industry and the US manufacturing base.”

“This legislation sends a clear message to China that it must abandon its “beggar thy neighbor” currency practices. If China fails to rebalance its currency, this legislation provides U.S. manufacturers and U.S. workers the necessary tools to defend themselves against China's predatory practices.”

Johnson concluded, “We have seen the cost of China's exploitative policies in shuttered plants and devastated communities across the textile belt of the southeast and the remainder of the country. We have seen our trade deficit explode as the Chinese government takes more and more jobs and orders away from hard working Americans. Our military readiness has also become threatened as our manufacturing base has been hollowed out. This legislation redirects our country and our industry back on the road to prosperity. We urge all members of the House to vote for the Currency Reform for Fair Trade Act.”

National Council of Textile Organizations (NCTO)

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