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Miscellaneous Tariff Bill Critical To Economy

Manufacturers believe this is one of the most important short-term actions to preserve and expand jobs, cut costs of doing business in the U.S. and boost manufacturing exports.

WASHINGTON, D.C., -- The National Association of Manufacturers (NAM) President and CEO John Engler issued the following statement urging the House of Representatives to support H.R. 6517, the Omnibus Trade Act – specifically provisions that would enact the Miscellaneous Tariff Bill (MTB):

“Manufacturers are encouraging members of the House of Representatives to pass the Omnibus Trade Act, which includes key provisions related to the MTB.  U.S. manufacturers large and small use the MTB’s tariff suspension provisions to obtain raw materials, propriety inputs and other products that are not available in our nation.  Failing to pass the MTB will effectively amount to a tax increase on manufacturers.  This hinders competitiveness and translates into lost jobs for American workers.

A July 2009 study by economist Andrew Szamosszegi of Capital Trade, Inc. concluded that, if enacted, the MTB would increase U.S. production by $4.6 billion and support almost 90,000 jobs.  The study’s estimates cover both the MTB signed into law in August and this bill combined.  Cost savings realized under the MTB allow U.S. companies to maintain competitive operations, invest in new facilities and re-train workers.

Manufacturers strongly believe this legislation is one of the most important short-term actions Congress can take to preserve and expand good American jobs, cut the costs of doing business in the United States and boost American manufacturing exports.”  

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