[Congressional Record (Bound Edition), Volume 153 (2007), Part 14]
[House]
[Pages 19132-19133]
[From the U.S. Government Publishing Office, www.gpo.gov]




         END CURRENCY MANIPULATION AND LEVEL THE PLAYING FIELD

  (Mrs. MILLER of Michigan asked and was given permission to address 
the House for 1 minute and to revise and extend her remarks.)
  Mrs. MILLER of Michigan. Mr. Speaker, currency manipulation by our 
foreign competitors is creating difficult challenges for our country's 
manufacturing base, particularly our domestic auto industry.
  The Wall Street Journal reported in June that ``a cheap yen is making 
it advantageous for Toyota to increase manufacturing capability and to 
export

[[Page 19133]]

cars from Japan, and that it is much more profitable to produce cars in 
Japan and ship them all to the United States right now.''
  And what is the response of the Congress to this threat against the 
American automotive industry which is directly responsible for the 
employment of millions of American jobs?
  Well, the Democrats control the Congress, and the Democratic 
leadership has decided that Detroit doesn't have enough on its plate 
right now. Instead of trying to level the playing field, Democrats want 
to pile on unworkable new CAFE standards on the domestic auto industry.
  Higher CAFE standards will not reduce our dependence on foreign oil, 
but they will steal investment dollars from technologies that could 
transform the entire automobile industry and level the global 
automotive market.
  I urge my colleagues to reject this misguided policy and stand up for 
American manufacturing companies, stand up for American jobs.

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