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RELEASE: Manufacturers Thank Senator McCaskill for Action on Critical Trade Bill

Washington, D.C., April 15, 2016 – The National Association of Manufacturers (NAM), the nation’s largest manufacturing trade association, thanked U.S. Sen. Claire McCaskill (D-MO) for her leadership advancing a transparent, predictable, new Miscellaneous Tariff Bill (MTB) process, introduced this week as the American Manufacturing Competitiveness Act of 2016 (S. 2794/H.R. 4923).

The bill will boost U.S. manufacturing by eliminating unnecessary border taxes paid by U.S. companies on vital components to their final products not available domestically. Congress’ failure to act on MTB over the past three years has left manufacturers to face these costs, ultimately undermining their competitiveness in manufacturing products in Missouri and across the nation.

“This legislation will provide vital relief to manufacturers in the United States, making us more competitive at a time when costs are rising and manufacturers big and small are facing a difficult global economy,” said NAM President and CEO Jay Timmons. “The NAM is particularly appreciative of Sen. McCaskill’s significant leadership over the past months and years in pushing forward on the creation of a new, predictable MTB process.

“Through Sen. McCaskill’s hard work, Congress now has before it a strong, new MTB process that will enable it to eliminate unfair and anticompetitive taxes, which will have positive impacts on manufacturers and their workers,” he said.

The last MTB passed by Congress expired at the end of 2012. Since then, companies have faced an annual $748 million tax hike on manufacturing in the United States, representing a $1.857 billion loss to the U.S. economy.

Learn more about the importance of advancing MTB legislation here.