Member of Congress today to urge support for renewing the MTB!
failure to renew a Miscellaneous Tariff Bill (MTB) is costing U.S.
manufacturers an annual $748 million in tax payments and a $1.875 billion
economic loss to the U.S. economy. For thirty (30) years, the MTB has supported
manufacturers by suspending import tariffs on much needed manufacturing inputs
that are not available domestically.
last eliminated these distortive tariffs by enacting the U.S. Manufacturing
Enhancement Act in 2010 with strong bipartisan support in both the House and
Senate. The tariff relief provided by that legislation expired at the end of
2012 and manufacturers are suffering because of it.
Congress’s failure to act, manufacturers are paying tariffs on inputs necessary
to manufacture their products, which undermines their competitiveness, raises
their costs and hurts their ability to retain and create manufacturing jobs in
the United States.
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International Trade Policy