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Over the past decade, currency manipulation by foreign governments has resulted in an increase in unfairly traded imports into the United States and has made it more difficult for U.S. exporters to compete in foreign markets. The practice has cost U.S. workers between one million and five million jobs -- and is responsible for as much as half of excess unemployment in the United States.
President Barack Obama called on Congress last week to close tax loopholes that allow some corporations to avoid paying their fair share of taxes at the expense of hardworking Americans.
Congress must act now to close a loophole that could allow corporate tax dodgers to walk away with $34 billion over the next 10 years.