Federal Spotlight: ABI Signs Onto NAM Letter Regarding Federal Tariff Legislation
August 23, 2018
ABI has joined a letter urging elected officials to keep up the momentum and ensure final passage of the Miscellaneous Tariff Bill (MTB). The MTB temporarily eliminates and reduces border taxes on a set of products that have been found through a transparent and rigorous process not to be produced at all or in sufficient capacity in the United States.
An analysis by the National Association of Manufacturers found that this legislation, if approved, would eliminate import tariffs of nearly $1 million per day through 2020, amounting to total savings of nearly $800 million and an increase of U.S. manufacturing output by $2.3 billion. The MTB would bolster businesses of all sizes, supporting jobs and growth in industries ranging from chemicals, agriculture, textiles and footwear to electrical equipment, machinery and sporting equipment. The bill would help existing manufacturing operations throughout the United States by lowering unnecessary costs and helping to support and grow well-paying manufacturing jobs here in the United States.
The MTB, which earlier passed the House unanimously and was adjusted by the Senate and passed unanimously at the end of July, will likely be taken up by the House upon its return to work in September. The letter calls on the House to repeat its overwhelming support for MTB legislation, as demonstrated just a few months ago, by passing the Senate-approved version of the Miscellaneous Tariff Bill Act of 2018.