AP: Toomey Admits He Favors China Ahead of American Workers

Toomey’s Stance Is Out-of-Touch with Pennsylvania – Opposes State’s Entire House Delegation

Congressman Toomey finally admitted that he would side with China at the expense of American workers on a bill aimed at preventing China from manipulating its currency. Today, the Associated Press reported that Congressman Toomey opposes the bipartisan legislation, placing him in radical opposition to every U.S. House member from Pennsylvania.

“Congressman Toomey finally broke his silence but only to let Pennsylvanians know that he continues to favor China over American workers. More and more jobs are being sent overseas every day. Rather than force China to play by the rules, Congressman Toomey wants to take away all safeguards that protect American jobs,” said Sestak spokesman Jonathon Dworkin.

China has been able to flood the market with cheaper goods as a result of its currency manipulation which place American companies and workers at an unfair disadvantage.  The bill, which Joe co-sponsored, would allow the U.S. to seek sanctions against China and other countries that manipulate their currency. The measure passed the U.S. House of Representatives last week in an overwhelmingly bipartisan manner, 348-79.

As the Associated Press reported:

“Pennsylvania’s Republican and Democratic candidates for U.S. Senate differ on a bill that seeks to address a trade imbalance with China.  Republican Pat Toomey said Thursday he believes the bill would create more harm than good for Americans. Toomey’s Democratic counterpart, U.S. Rep. Joe Sestak, voted for the measure. It passed the House last week, 348-79, and was sent to the Senate. It would allow the U.S. to seek sanctions against China and other nations that gain trade advantages by manipulating their currency. Supporters say it would bring back some of the American jobs lost to China’s artificially undervalued currency that makes Chinese products cheaper to buy.”  [AP, 10/7/10]

Other examples of Toomey’s favoritism towards China include:

In his 2009 book, The Road to Prosperity, Toomey explained his belief that the United States has an “unfortunate tendency” to use “buy American language” in legislation.  [The Road to Prosperity, © 2009, p. 211]

According to the Morning Call, Congressman Toomey wants a regulatory system more like Hong Kong: “I was seeing pretty close up which economies were succeeding and which ones weren’t, and there is an unmistakable correlation,” Toomey said. “Those that are heavily regulated and centrally controlled underperform. And those like Hong Kong, where there is regulation but it is sensible, they thrive.” [Allentown Morning Call, 9/26/10]

In his 2009 book, Toomey said, “Foreign subsidies should be seen for what they are: Gifts to American consumers at the expense of foreign taxpayers…Certainly, substantial foreign subsidies…would result in fewer American cars sold, and consequently fewer American auto workers.” [The Road to Prosperity, p. 112-113].

Just this week, it was reported that foreign corporations are illegally pouring money into Pennsylvania on behalf of Congressman Toomey. The Chamber of Commerce uses tax loopholes to avoid disclosing contributions from foreign corporations. The New York Times wrote that “[b]ecause the United States Chamber is organized as a 501(c)(6) business league under the federal tax code, it does not have to disclose its donors, so the full extent of foreign influence on its political agenda is unknown. But Tuesday’s report sheds light on how it raises money abroad. Its affiliate in Abu Dhabi, for example, the American Chamber of Commerce, says it has more than 450 corporate and individual members in the United Arab Emirates who pay as much as $8,500 a year to join.” [New York Times, 10/5/10]