INDA, Association of the Nonwoven Fabrics Industry has applauded the July 17 introduction of H.R. 2708, the Miscellaneous Tariff Bill (MTB), by House Ways and Means Committee Chairman Dave Camp (R-MI) and Ranking Member Sander Levin (D-MI), along with Trade Subcommittee Chairman Devin Nunes (R-CA) and Ranking Member Charles Rangel (D-NY).
"The Miscellaneous Tariff Bill is absolutely vital to the U.S. nonwoven fabrics industry and countless U.S. manufacturers' ability to maintain global competitiveness, productivity and employment," says INDA Director of Government Affairs Jessica Franken. "INDA commends this bipartisan group of House lawmakers for introducing this commonsense, pro-manufacturing legislation."
The MTB is a package of thoroughly vetted bills that either eliminate or reduce import tariffs on raw materials and intermediate products needed by U.S. manufacturers that are not available domestically. The duty relief under the last MTB passed by Congress expired at the end of 2012, imposing significant costs on U.S. manufacturers since that time.
"The last MTB package Congress considered in 2010 was estimated to support 90,000 American manufacturing jobs and expand U.S. GDP by $3.5 billion. Failure to pass the current MTB measure will mean a tax hike on manufacturers of $748 million and economic losses of $1.857 billion over the next three years alone," Franken says. "INDA urges House and Senate lawmakers to act quickly on this bipartisan legislation to ensure U.S. manufacturers are able to maintain their global competitiveness."
INDA applauds Miscellaneous Tariff Bill