Message for Capitol Hill: Lack of MTB Hurting Manufacturers’ Competitiveness
WASHINGTOIN, D.C. – Manufacturers from across the country left their shop floors today to be on Capitol Hill to deliver a clear message to lawmakers: Passage of bipartisan Miscellaneous Tariff Bill (MTB) legislation is long overdue. The MTB would lower taxes on U.S. job creators by eliminating or reducing import duties on hundreds of raw materials and intermediate products that are not available in the United States. Manufacturers also highlighted the economic harm that has been done due to the expiration of the MTB more than 530 days ago. By letting the MTB expire, Congress has raised taxes on manufacturers.
Albaugh, Inc. Vice President Stuart Feldstein highlighted how the lack of an MTB has hurt his company’s competitiveness. “The MTB is important to Albaugh to secure our competitiveness in a highly competitive global market,” said Feldstein. “Without this legislation, Albaugh has incurred needless additional costs of approximately $1 million annually. The continuing roadblocks to passage of the MTB produce no winners—only losers. Manufacturers in the United States desperately need this legislation to be passed immediately with retroactive effect.”