WASHINGTON — The Coalition for a Prosperous America (CPA) today recommended that President Joe Biden should address the overvaluation of the U.S. dollar in order to bring back manufacturing jobs to the United States as part of his administration’s Build Back Better initiative. As first reported by The New York Times, CPA presented ideas on how to realign the overvalued U.S. dollar to President Biden’s agency transition teams, and the Biden administration has “a handful of senior economic advisers who are concerned about the dollar’s strength and have explored ways to reduce it.”
“I have seen firsthand the negative impact a strong dollar has had on the American manufacturing industry and the workers we employ,” said CPA Chair Zach Mottl. “President Biden’s commitment to Build Back Better is a real opportunity to address this fundamental issue and bolster the resilience and competitiveness of our domestic manufacturers.”
“The overvaluation of the U.S. dollar is a big problem that not only puts American manufacturing companies at a severe disadvantage, but it also perpetuates the ongoing war on the working class,” Michael Stumo, CEO of the CPA, said. “On behalf of CPA and our members, we appreciate that President Biden is willing to engage with us on this important issue, and we look forward to continuing to engage the administration as they work to address the negative impact it is having on our economy and workers.”
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