If passed and signed into law, New York Democratic Sen. Chuck Schumer says a pending bill regarding Chinese currency would send a message to China that it can no longer continue to get away with “economic murder” against the U.S.
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The third-ranking Senate Democrat said the bill “will send an important signal to China that they can’t keep getting away with economic murder. It is as important to the future of America as just about anything else.”
Schumer made the statement at the Capitol on Wednesday alongside Senate Majority Leader Harry Reid of Nevada and Senate Majority Whip Dick Durbin of Illinois.
The Currency Exchange Rate Oversight Reform Act of 2011 would put pressure on the Chinese to allow the value of their currency to rise. China said the bill could lead to a trade war if it becomes law.
House Speaker John Boehner has called the legislation “dangerous.”