Manufacturing group approves of tariff bill

The National Association of Manufacturers (NAM) has been an outspoken leader in the push to enact tax reform, but in a recent statement, the organization pointed out that one of the biggest deals for manufacturers over the last year was the House passage of H.R. 4318, the Miscellaneous Tariff Bill (MTB) Act of 2018.

NAM President and CEO Jay Timmons called the move “a top story and a big deal for manufacturers.”

“Manufacturers and other businesses face what amounts to a nearly $1-million-a-day tax every additional day this issue goes unresolved,” Timmons said. “That’s thanks to billions of dollars in burdensome tariffs that companies have had to pay since the last MTB expired at the end of 2012, just for buying the supplies they need to build products in America.”

Timmons said the organization is now “looking to the Senate to act quickly to get this tariff-relief legislation to the President for his signature.”

“Manufacturers and our economy started 2018 strong. Passing legislation like this will help keep the momentum going,” Timmons said.

NAM has key-voted passage of H.R. 4318, and in December sent a letter from more than 190 business organizations urging Congress to boost manufacturing by passing the MTB.