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American Manufacturing Trade Action Coalition: Freshman GOP Letter Supporting Miscellaneous Tariff Bill (MTB) a Boost for U.S. Manufacturing
Friday, April 20, 2012
“Plain and simple, the MTB is a trade bill that is a job creator for U.S. manufacturing,” said American Manufacturing Trade Action Coalition (AMTAC) Executive Auggie Tantillo. “We thank all of the members who signed the Reed letter,” Tantillo continued.
“The MTB creates jobs because it eliminates duties on intermediate inputs that are not produced in the United States but are used by U.S. manufacturers,” Tantillo said.
“The MTB is a transparent process that contains important safeguards that prevents this legislation from damaging any U.S. manufacturers. It is vetted thoroughly to make sure that no bills are included that cover products made in the United States. This renders the measure noncontroversial because no U.S. production is harmed,” Tantillo added.
“For the U.S. textile industry, the MTB is vital to reduce costs on inputs like certain acrylic and rayon products that are no longer made in the United States. As an example, rayon is no longer made in the United States for environmental reasons. Because the MTB provides reduced cost access to that input, U.S. textile manufacturers are able to keep plants open that make fabrics using rayon products,” Tantillo said.
The MTB is a series of bills that reduce tariffs on manufacturing inputs. The cost to the U.S. Treasury for any individual bill cannot exceed $500,000. Each bill is vetted to make sure there is no U.S. production for the input involved. For more information about the MTB process, see: http://waysandmeans.house.gov/mtb/.