Lipinski Fights for American Jobs, National Security, and Veterans
October 8, 2010
Lipinski Votes to Create Jobs by Cracking
Down on China’s Currency Manipulation
Rep. Lipinski has been fighting for local manufacturers hurt by China’s
currency manipulation. Here, he operates a stamping press made by
Chicago-based manufacturer The Heim Group at a recent trade show.
Last week, Congressman Lipinski voted for the Currency Reform for Fair Trade Act, H.R. 2378, to make it easier to combat China’s currency manipulation, which artificially lowers the price of Chinese exports and has resulted in the loss and outsourcing of countless American jobs over the last decade. The bill passed the House of Representatives by a vote of 348 to 79.
“It’s about time Congress took decisive action to restore fair competition for American manufacturers and to protect American workers from the effects of China’s currency policy,” Congressman Lipinski said. “At last count, manufacturing employed more than 40,000 people in my district. One major reason that number is substantially lower than it once was is that China refuses to let the free market set the value of the renminbi, which is now undervalued by at least 25 percent. The result is that cheap Chinese goods continue to crowd out those stamped ‘Made in U.S.A.,’ forcing domestic manufacturers and other exporters to lay off workers at a time when we can ill afford more job losses.”
If China stopped devaluing its currency, 500,000 American jobs would be created, most in manufacturing, and most paying above-average wages, according to C. Fred Bergsten, director of the Peterson Institute for International Economics.
Lipinski’s Resolution Honoring National POW/MIA Recognition Day Passes the House
Lipinski talks to a local veteran at Resurrection Cemetery in Justice.
On Sept. 28, the House of Representatives approved Congressman Lipinski’s resolution calling on all Americans to honor National POW/MIA Recognition Day and expressing the nation’s gratitude to the tens of thousands of service members who endured unimaginable privation as prisoners of war or who served and sacrificed in defense of our freedom and remain listed as missing in action. To view the Congressman’s remarks on the House floor prior to the vote, click here. To read his remarks, click here.
Lipinski Helps Lead Effort to Reduce America’s Dependence on China for Rare Earth Materials, Critical for U.S. Economy and National Security
Lipinski discusses his work to strengthen U.S. manufacturing,
which includes increasing domestic production of rare earths.
Last week, Congressman Lipinski cosponsored and voted for The Rare Earths and Critical Materials Revitalization Act, H.R. 6160, which directs the Department of Energy to research ways to increase domestic mining and production of rare earth materials. These elements are critical for making everything from weapons guidance systems to hybrid vehicles, but China currently controls production of more than 90 percent of all rare earths, putting America’s economy and national security at risk. The bill passed the House of Representatives by a vote of 325 to 98.
“We can’t let China turn its rare earths monopoly into a manufacturing monopoly,” said Congressman Lipinski, who cosponsored the bill and helped get it through the House Science & Technology Committee. “Nor can we overlook the fact that these materials are critical components in a host of important defense and weapons systems. In recent months, China has sharply restricted exports of rare earths in a bid to force companies to locate within its borders. Just last month, it apparently halted rare earth exports to Japan in connection with a diplomatic dispute, suggesting that it is willing to use its monopoly for political and strategic purposes. This bill is a much-needed first step to promote domestic production of rare earths and free America from dependence on China.” |
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