Washington, D.C. – National Association of Manufacturers (NAM) President and CEO Jay Timmons released the following statement on the passage of H.R. 4318, the Miscellaneous Tariff Bill (MTB) Act of 2018, by the U.S. House of Representatives:
“While it may not make headlines, this is a top story and a big deal for manufacturers. Manufacturers and other businesses face what amounts to a nearly $1-million-a-day tax every additional day this issue goes unresolved. That’s thanks to billions of dollars in burdensome tariffs that companies have had to pay since the last MTB expired at the end of 2012, just for buying the supplies they need to build products in America. That’s why we are now looking to the Senate to act quickly to get this tariff-relief legislation to the President for his signature. Manufacturers and our economy started 2018 strong. Passing legislation like this will help keep the momentum going.”
Due to the legislation’s critical importance to manufacturers, the NAM key-voted passage of H.R. 4318. In November, the NAM welcomed the bipartisan, bicameral introduction of this legislation, and in December, the NAM led a letter of more than 190 business organizations urging Congress to boost manufacturing by passing the MTB. Click here for testimonials from manufacturers in America on the importance of passing the MTB.
Written by: Michael Short