Manufacturers Press for Immediate MTB Renewal
U.S. manufacturers are suffering from more than 400 days of expired Miscellaneous Tariff Bill (MTB) legislation, said National Association of Manufacturers Director of International Trade Policy, Jessica Lemos, in a Feb. 4 blog post (here). “The MTB enacted in 2010…
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was estimated to support 90,000 jobs, increase U.S. production by $4.6 billion and expand U.S. GDP by $3.5 billion,” said Lemos. “Failure to pass a new MTB will result in a staggering $748 million tax hike on manufacturing over the next three years. This translates into a whopping $1.857 billion in economic losses.” Lemos urged quick congressional action to renew the legislation.