Glenn Thompson on Free Trade
We are too often placed at a competitive disadvantage by a national government that is not always business friendly. If we are to keep employers going, it is imperative that we improve our business environment.
[Explanatory note from Wikipedia.com "Exchange Rate"]:
Between 1994 and 2005, the Chinese yuan renminbi was pegged to the US dollar at RMB 8.28 to $1. Countries may gain an advantage in international trade if they manipulate the value of their currency by artificially keeping its value low. It is argued that China has succeeded in doing this over a long period of time. However, a 2005 appreciation of the Yuan by 22% was followed by a 39% increase in Chinese imports to the US. In 2010, other nations, including Japan & Brazil, attempted to devalue their currency in the hopes of subsidizing cheap exports and bolstering their ailing economies. A low exchange rate lowers the price of a country's goods for consumers in other countries but raises the price of imported goods for consumers in the manipulating country.
Congressional Summary:Sugar Reform Act:
Proponent's argument for bill:(Senators' opinions reported on politico.com) "We subsidize a handful of wealthy sugar growers at the expense of everybody in America," said Sen. Patrick Toomey (R-Pa.), whose home state boasts the chocolate giant, Hershey's. Sen. Heidi Heitkamp (D-N.D.), warned her colleagues against unraveling the commodity coalition behind the farm bill: "We forget that this is much bigger than a sugar program. It's much bigger than any one single commodity. When you single out one commodity, you threaten the effectiveness of the overall farm bill."
Opponent's argument against bill:(Food and Business News, May 2013): Users claim the sugar program nearly doubles the price of sugar to US consumers and has resulted in lost jobs as some candy manufacturers have moved operations to other countries. Producers claim the program has resulted in more stable sugar supplies, provides a safety net for growers and that world prices are often lower because of subsidies in origin countries, which would put US growers at a disadvantage should import restrictions be lifted. Producers also note that US sugar prices have declined more than 50% from late 2011 highs. They also maintain that jobs have been lost or moved out of the US for reasons other than sugar prices, mainly labor and health care costs, noting that candy makers' profits have been strong in recent years.
Congressional Summary:Amends the Tariff Act of 1930 to include a countervailing duty or antidumping duty on merchandise imported into the US from foreign countries with fundamentally undervalued currency.
Opponent's argument against bill: (by the Club for Growth)We urge all House members to not co-sponsor the protectionist Currency Reform for Fair Trade Act. This proposal would make it easier for the federal government to slap
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Freshman class of 2019:
"Freshman class" means "not in Congress in January 2017", with exceptions:
* Special election, so sworn in other than Jan. 2019
** Served in Congress in a previous term
*** Lost recount or general election
Freshman class of January 2019 (Republicans):
FL-6:Waltz ; FL-15:Spano ; FL-17:Steube
MN-1:Hagedorn ; MN-8:Stauber
OH-12*:Balderson ; OH-16:Gonzalez
PA-9:Meuser ; PA-11**:Smucker ; PA-12*:Keller ; PA-13:Joyce ; PA-14:Reschenthaler
TN-2:Burchett ; TN-6:Rose ; TN-7:Green
TX-2:Crenshaw ; TX-3:Taylor ; TX-5:Gooden ; TX-6:Wright ; TX-21:Roy ; TX-27*:Cloud
VA-5:Riggleman ; VA-6:Cline
Freshman class of January 2019 (Democrats):
AZ-2**:Kirkpatrick ; AZ-9:Stanton
CA-49:Levin ; CA-10:Harder ; CA-21:Cox ; CA-25:Hill ; CA-39:Cisneros ; CA-45:Porter ; CA-48:Rouda
CO-2:Neguse ; CO-6:Crow
FL-26:Mucarsel-Powell ; FL-27:Shalala
IA-1:Finkenauer ; IA-3:Axne
IL-4:Garcia ; IL-6:Casten ; IL-14:Underwood
MA-3:Trahan ; MA-7:Pressley
MI-8:Slotkin ; MI-9:Levin ; MI-13:Tlaib ; MI-13*:Jones ; MI-11:Stevens
MN-2:Craig ; MN-3:Phillips ; MN-5:Omar
NJ-2:Van Drew ; NJ-3:Kim ; NJ-7:Malinowski ; NJ-11:Sherrill
NM-1:Haaland ; NM-2:Torres Small
NV-3:Lee ; NV-4**:Horsford
NY-14:Ocasio-Cortez ; NY-11:Rose ; NY-19:Delgado ; NY-22:Brindisi ; NY-25:Morelle
PA-4:Dean ; PA-5:Scanlon ; PA-6:Houlahan ; PA-7:Wild ; PA-17*:Lamb
TX-7:Fletcher ; TX-16:Escobar ; TX-29:Garcia ; TX-32:Allred
VA-2:Luria ; VA-7:Spanberger ; VA-10:Wexton