NTA strongly endorses Levin Mark

28 Sep '10

2 min read

At a mark-up scheduled for Friday, September 24 at 9:30, Ways and Means Chairman Sander Levin intends to offer an amendment in the nature of a substitute to the Ryan-Murphy Currency Reform for Fair Trade Act, H.R. 2378.

The National Textile Association strongly supports this pro-jobs, pro-growth, and pro-investment amendment and urges Members of Congress to do the same.

The Levin substitute is a streamlined version of H.R 2378 that:

• Is WTO-compliant and gives no grounds for retaliation by any trading partner;
• Clarifies the responsibility of the Commerce Dept. to investigate alleged currency undervaluation as a prohibited export subsidy and establish the facts on a case-by-case basis;
• Retains the countervailing duty remedy that is the heart of Ryan-Murphy; and
• Orders the Comptroller General of the United States to report on the legislation's implementation nine months following enactment;

By enacting H.R. 2378, the Congress would:

• Boost exports and create jobs in the United States;
• Encourage more research and development and investment in new plant and equipment in the United States; and
• Stimulate the U.S. economy without incurring any new public debt or budgetary expenditures.

What Members of Congress can do:

• Communicate your support for the substitute to Chairman Levin and/or Ranking Member Camp and to other members of the Ways and Means Committee;
• Communicate your support for the Levin substitute to your party's leadership;
• Remind them that your constituents need action on the currency problem. The Levin substitute is a jobs bill and will restore manufacturing; and
• Urge a vote on the House floor prior to recessing before the November election.

The National Textile Association is the nation's oldest and largest association of fabric-forming companies. Our members knit and weave fabric in the U.S.; supply fibers, yarns to the fabric-forming industry; or supply other materials or services to the American textile industry.

National Textile Association

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