Manufacturers welcome this week’s statements by House Republicans in support of legislation that would, at long last, establish a new process for the enactment of Miscellaneous Tariff Bills (MTBs), and we look forward to reviewing closely the details. New MTB legislation would eliminate longstanding distortions in the U.S. tariff code through the elimination of taxes on imported products not available in the United States.
The NAM has long supported bipartisan and bicameral efforts to pass MTBs, which correct on a temporary basis distortions in the U.S. tariff code by eliminating duties on imported products for which there is no or insufficient domestic production and availability.
While Congress had effectively addressed these distortions through the enactment of MTBs with strong bipartisan support for three decades, Congress has not renewed MTBs since the U.S. Manufacturing Enhancement Act in 2010 expired at the end of 2012. Since then, businesses throughout the country have faced an annual $748 million tax increase on manufacturing, and the U.S. economy has suffered a $1.875 billion economic loss, according to NAM analysis.
Who’s been harmed by this failure to renew the MTB? Manufacturers, especially small and medium-sized manufacturers, in industries ranging from agriculture and electronics to textiles, chemicals and beyond. These companies have seen their costs rise for inputs not produced in the United States, undermining American competitiveness and their ability to retain and create manufacturing jobs in the United States.
Action on a new MTB process is long overdue. We strongly urge Congress to work quickly and jointly to pass a new MTB process that will eliminate distortions in the U.S. tariff code that are undermining the competitiveness and job growth of our industries.
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