Congress Must Act to Reverse the Recent Tax Hike on Manufacturers

By April 11, 2013Trade

Today marks 100 days since the Miscellaneous Tariff Bill (MTB) expired. The MTB cuts costs for manufacturers in the United States by eliminating or reducing import tariffs on necessary manufacturing inputs that are not produced domestically.  The 112th Congress failed to act on the MTB by December 31st, resulting in a substantial tax hike on manufacturers, both large and small.

Unfortunately, the MTB has been mired in inside-the-beltway politics, damaging manufacturers’ competitiveness and threatening jobs.  Job creators in the United States, like BASF and Lasko Products, rely heavily on the MTB to keep their costs down, make investments in their facilities and in R&D, and better compete in a challenging global economy.  The lack of action by Congress is significantly hurting manufacturers and each day that passes without action means higher costs for manufacturers in the United States.

For three decades, Congress has passed this commonsense legislation with broad bipartisan support. The 113th Congress must act quickly in order to reverse this damaging tax increase on manufacturers in the United States. Manufacturers can’t wait any longer and are calling on Congress to act now on this critical job-supporting, export-enhancing legislation.

Jessica Lemos is director of international trade policy, National Association of Manufacturers.

Leave a Reply