Boehner calls China currency bill ‘dangerous’
October 4th, 2011
03:02 PM ET
11 years ago

Boehner calls China currency bill ‘dangerous’

Washington (CNN) - House Speaker John Boehner Tuesday called legislation moving through Congress to crack down on China's manipulation of its currency "dangerous," arguing it's not Congress' role to intervene in the issue.

"I think it's pretty dangerous to be moving legislation through the United States Congress forcing someone to deal with the value of their currency," Boehner told reporters on Capitol Hill. "This is well beyond, I think, what the Congress ought to be doing."

After clearing a procedural hurdle Monday night, the Senate is expected to pass a bill later this week that would impose penalties on countries whose currency is now undervalued. House Republicans have been split on the issue. While about 60 House GOP members have signed on as co-sponsors of a similar House measure pushed by Democrats, most business groups oppose Congressional action, and top GOP leaders have indicated they oppose moving any bill.

House Democrats seized on Boehner's comments, arguing that GOP refusal to schedule a vote meant they were undercutting the U.S. manufacturers who were urging Congress to help level the playing field for them to export their goods.

"This is a message from the Republican Party, from Speaker Boehner, to all those small and medium-sized manufacturers in Pennsylvania, Ohio, New England, in Indiana, in Michigan, in New Jersey, all across the industrial Midwest that your help, the Congress helping you, is dead on arrival," Ohio Democratic Rep. Tim Ryan said. "The Republican party no longer represents the small and medium-sized manufacturer."

But Democrats haven't found an ally in President Barack Obama on this issue either. The White House has failed to formally weigh in on the issue.

White House Press Secretary Jay Carney told reporters Tuesday the administration was still discussing the issue with members of Congress. "We share the concerns of members about the valuation of the currency and the need to appreciate it," Carney said.

Michigan Democratic Rep. Sander Levin, one of the chief advocates of the House version of the bill, noted that he has bipartisan support from more than 200 House members and was still hopeful the White House would get behind the measure.

Pointing to the statements from administration officials that they were still looking at the matter, Levin said, "I look upon that as a small sign of some encouragement."

Levin maintained it's up to the House Republicans to schedule a vote. "The leadership of the Republican Party should not slam the door on it - the White House is not, at this point, and it should not."

Filed under: China • Congress • John Boehner
soundoff (9 Responses)
  1. Rudy NYC

    Uh, guys. Your article neglects to describe the bill. How it imposes what types of penalties. If you mean removing the tax loopholes for corporations that move manufacturing to China, then I'm all for it. Besides, smart money says to stay out of China because they do not have copyright laws that protect your designs and intellectual properties like we do hear. Just ask Apple about the IPhone clones being manufactured and sold in look-alike IPhone stores in China. At least GM, balked at the idea of manufacturing cars in China when they found out that the price for doing so would be any copyrights created for the manufacturing processes would belong to the Chinese government.

    October 4, 2011 03:10 pm at 3:10 pm |
  2. Sniffit

    He's mischaracterizing what they bill does. It is eminently Congress' responsibility to protect our interests against dangerous manipulations of the economy and currency by foreign nations. The fact is, there are plenty of people who are driving GOP/Teatroll policy who are making money off China's mnipulation of its currency. You can BANK on it.

    October 4, 2011 03:19 pm at 3:19 pm |
  3. Angry Irish

    I'm guessing his masters yanked his chain.

    October 4, 2011 03:30 pm at 3:30 pm |
  4. The Real Tom Paine

    Of course he objects to anything that would keep jobs here. If people are employed, they are happy and won't vote for the GOP. If he keeps his masters happy, they keep sending him cash to obstruct the President.

    October 4, 2011 03:48 pm at 3:48 pm |
  5. Squigman

    And who better to take advice from. After all, he can tie his shoes and wave bye bye. He's waved bye bye to all the jobs, why not listen to him and see a few more jobs evaporate.

    October 4, 2011 04:12 pm at 4:12 pm |
  6. BeverlyNC

    Boehner and his anti-People policies and actions are what is dangerous. No More Republicans in any local, state, or national office in 2012. We need to take America back for the PEOPLE and put corporations back in their place – as businesses who depend on us as consumers – not as DICTATORS who abuse us with the direct help of th Republicans.

    October 4, 2011 04:22 pm at 4:22 pm |
  7. thomas

    I think countries use there currency to the best advantage of there country ! Certainly we have done that in the past.

    As for the Tan Man " House Speaker John Boehner " , White Punk on Smoke !

    October 4, 2011 04:26 pm at 4:26 pm |
  8. jackal & jester

    I say we go ahead and pass it. Ppl are worried we will be taken over by China. This way we can grow our own interest and lower our reliance on China.

    October 4, 2011 04:29 pm at 4:29 pm |
  9. Beverly - NYC

    Mr. Boehner I sure the chinese give a rat's rear end what you think. Next time the Koch brothers call please remind them the Chinese own us, but they should enjoy their tax cut.

    October 4, 2011 04:33 pm at 4:33 pm |