The clock continues to tick and we are now more than three months pas the expiration of the Miscellaneous Tariff Bill (MTB) at the end of the 112th Congress and as a result, manufacturers both large and small have seen their costs spike substantially this year. The 113th Congress must act quickly in order to reverse this tax increase on manufacturers in the United States.
Companies of all sizes benefit from the MTB to help level the playing field for manufacturers in the U.S. The MTB cuts costs by reducing or eliminating tariffs on critical manufacturing inputs that are not available in the United States. The lack of action by Congress on an MTB is hurting manufacturers’ cost-competitiveness, thereby threatening jobs and economic growth.
For Lasko Products in Pennsylvania, the MTB is a critical tool that helps them compete. In a challenging global market, the MTB helps Lasko stay competitive by reducing their costs.
“There are 675 American workers at Lasko facilities benefiting from the MTB program,” said Ed McAssey, Chief Operating Officer at Lasko. “The MTB allows Lasko to compete against low-cost imports of household electric fans from China. We are the last American producer of portable oscillating fans and have been able to stay in this business with the MTB program and heavy investment in capital equipment and tooling. If Congress fails to act quickly and renew the MTB, it will put American jobs in our factories at risk. We hope Congress will act expeditiously to preserve American jobs and our investment.”
Each day that passes without the MTB means higher tariffs for manufacturers in the United States – like Lasko. For three decades, Congress has acted in a bipartisan, bicameral fashion to pass this common-sense legislation. The time for them to act on the MTB is now.