Senate Scheduled to Vote on China Currency Bill on Oct 11
On October 6, 2011, the Senate agreed to a motion to close further debate on S. 1619, the Currency Exchange Rate Oversight Reform Act (S. 1619), which would establish a new framework for identifying misaligned currencies and require the Administration to take action if countries fail to correct such misalignment. S. 1619 would also clarify that countervailing duty law can address currency valuation.
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The Senate also reached a unanimous consent agreement to resume consideration of S. 1619 on October 11, 2011. The Senate is also scheduled to vote on S. 1619 on October 11, 2011. Press sources indicate that S. 1619 is expected to be passed by the Senate.