The Miscellaneous Tariff Bill (MTB) would lower taxes on U.S. job creators by eliminating or reducing import duties on hundreds of raw materials and intermediate products that are not available in the United States. The MTB expired more than 530 days ago, and congressional inaction on this measure has resulted in a whopping $748 million tax on manufacturing in the United States that otherwise would be waived.
Manufacturers from across the country left their shop floors on June 17 to deliver a clear message to lawmakers on Capitol Hill: Passage of bipartisan MTB legislation is long overdue.
Politico Pro (subscription required) wrote: “Manufacturers kicked off a blitz Tuesday aimed at getting Congress to renew a long-lapsed measure that waives import taxes on an assortment of goods they say are critical elements of their supply chains but can’t be purchased in the United States.”
In addition to arranging meetings for dozens of NAM members with House and Senate offices, the NAM launched an ad campaign on 30 popular news and opinion websites, urging the extension of the MTB.
“Despite strong bipartisan support, this critical jobs bill continues to languish. The MTB is exactly the type of measure that Congress should be considering as our economy continues struggling to get back on its feet,” NAM President and CEO Jay Timmons wrote in an op-ed in The Daily Caller, titled“Manufacturers Want the Tariff Bill They’ve Waited on Since 2012.” He described the harmful impact of the delay on several NAM member companies.
Albaugh, Inc. Vice President Stuart Feldstein participated in an NAM press conference call to highlight how the lack of an MTB has hurt his company’s competitiveness. “The MTB is important to Albaugh to secure our competitiveness in a highly competitive global market,” Feldstein said. “Without this legislation, Albaugh has incurred needless additional costs of approximately $1 million annually. The continuing roadblocks to passage of the MTB produce no winners—only losers. Manufacturers in the United States desperately need this legislation to be passed immediately with retroactive effect.”
DuPont Program Manager for International Trade Elaine Olsen also joined the press call, emphasizing to reporters that, “The MTB enables companies like DuPont to maintain jobs here in the United States and allows us to continue to create new opportunities for sustainable business growth. We urge Congress to pass this duty suspension legislation.”
NAM Vice President of International Economic Affairs Linda Dempsey added, “Do we think we can get this done this year? Absolutely. Do we think there’s interest? Absolutely.…Congressional inaction on this critical jobs bill has undermined manufacturers’ global competitiveness and damaged their ability to invest in their U.S. facilities and create new manufacturing jobs.”
Click here to learn more about the MTB, and watch our A Minute in Manufacturing video featuring NAM Director of International Trade Policy Jessica Lemos.