–House Speaker Boehner: ‘More Work Needs To Be Done’ on China FX
–GOP Determined To ‘Lay The Groundwork’ For Tax Reform
–Repeats House To Vote For 1-Year Bush Tax Cuts Extension Soon
By John Shaw
WASHINGTON (MNI) – House Speaker John Boehner said Thursday that it
is “inappropriate” for Congress to pass a currency-related bill directed
at China, arguing there are better ways to encourage China to revalue
its currency than threatening to pass punitive legislation.
In response to a question at a press briefing, Boehner said there
are effective ways to deal with China and there are ways “not to deal”
with China and said currency legislation is in the second category.
Boehner said that “more work needs to be done” on the China
currency issue, but this is better accomplished through economic
diplomacy not legislative threats.
In other matters, Boehner repeated that the House will vote later
this month to extend the Bush-era tax cuts for a year and taunted
Democrats to offer an extension that would apply to only those making
$250,000 or less.
Boehner said a full one-year extension of the tax cuts is an
“appropriate course of action” and would “stop the largest tax increase
in American history.”
The Speaker added that Republicans are determined to “lay the
groundwork” for fundamental tax reform.
Finally, Boehner declined to specify what health care alternative
the GOP would offer if it succeeds in repealing President Obama’s 2010
health care law.
He said Republicans would adopt a “commonsense, step by step
approach,” but did not say what this formulation means.
** MNI Washington Bureau: (202) 371-2121 **
[TOPICS: M$U$$$,MFU$$$,MCU$$$,MFU$$$,M$Q$$$,MN$FX$]
