This strategy is a blueprint for competitiveness that will unleash the economy and manufacturing’s outsized multiplier effect. Importantly, manufacturers’ aspirations—the four goals laid out in the pages that follow—are ones that all Americans who want to maintain our country’s economic advantage can rally around.
Message for Capitol Hill: Lack of MTB Hurting Manufacturers’ Competitiveness
Time for Washington to End Tax Hike on Manufacturers
Washington, D.C., 06/17/14 - Manufacturers from across the country left their shop floors today to be on Capitol Hill to deliver a clear message to lawmakers: Passage of bipartisan Miscellaneous Tariff Bill (MTB) legislation is long overdue. The 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. Manufacturers also highlighted the economic harm that has been done due to the expiration of the MTB more than 530 days ago. By letting the MTB expire, Congress has raised taxes on manufacturers.
Albaugh, Inc. Vice President Stuart Feldstein highlighted 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,” said Feldstein. “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.”
Speaking on a press conference call with reporters, DuPont Program Manager for International Trade Elaine Olsen highlighted the importance of the MTB to manufacturers’ competitiveness. “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,” said Olsen. “We urge Congress to pass this duty suspension legislation.”
National Association of Manufacturers Vice President of International Economic Affairs Linda Dempsey also emphasized the importance of the legislation to manufacturers in the United States. “Manufacturers have been operating without an MTB for roughly 18 months, paying substantially higher costs for critical inputs not made in the United States,” said Dempsey. “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. Action on this legislation is long overdue. Congress must act now to move this bill.”
Congress has failed to act on MTB legislation since 2012, and as a result, manufacturers have been paying substantially higher taxes on essential manufacturing inputs since January 1, 2013. To read testimonials about how manufacturers benefit from the MTB, click here. To learn more about the MTB, click here.