Lawmaker eyes late-year Senate vote on yuan

By Reuters
Posted Sep. 28, 2010 at 9:47 a.m.

The Senate is unlikely to vote on legislation to pressure China to raise the value of its currency until after the November 2 congressional elections, a Democratic senator said on Tuesday.

Senator Sherrod Brown told reporters he saw strong bipartisan support for currency legislation the House of Representatives is to vote on this week. However, it is unlikely the Senate will vote on the bill before lawmakers recess in coming days to go home to campaign, he said.

House Majority Leader Steny Hoyer told a manufacturing business audience that lawmakers had worked with the Obama administration to ensure that the currency bill the House will pass this week is consistent with World Trade Organization rules.

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