Roefaro Applauds Passage Of Chinese Currency Manipulation Bill
Utica, NY (WIBX) - Utica Mayor David Roefaro is applauding the Senate passage of the Chinese Currency Manipulation Bill. Roefaro says the measure will impact cities across the country, especially right here in Central New York. The bill passed the Senate last night with a 63 to 35 vote, and is now headed to the House for consideration. If members of the House approve the measure, it would penalize China for manipulating its currency.
Supporters of the bill accuse China of keeping its exports artificially cheap, which in turn hurts U.S. manufacturers. Senator Chuck Schumer says passage of the bill puts China on notice that the U.S. is fighting back against its cheating ways.