For the last two years, Congress has failed to act on Miscellaneous Tariff Bill (MTB) legislation, and as a result, manufacturers have been paying substantially higher taxes on essential manufacturing inputs since January 1, 2013. These higher costs are hurting manufacturers' competitiveness in the global economy and threatening job creation in the United States. On July 17, 2013, the MTB was introduced in the House of Representatives. Congress must act quickly to prevent further cost increases and job losses.
According to the NAM's economic impact assessment of the MTB, failure to pass the MTB has resulted in a tax hike on manufacturers of $748 million and in economic losses of $1.857 billion over three years. For three decades, Congress has supported manufacturing in America by suspending import taxes on necessary manufacturing inputs that are not available in the United States and must be imported from other countries, and it is time for Congress to act again to end this harmful and unnecessary tax on U.S. manufacturers
Tell Congress to Move This Bill NOW!