22, January 2018
CRAMER: MANUFACTURERS GET TARIFF REGULATORY RELIEF
Jan 17, 2018
Date: January 16, 2018
WASHINGTON, D.C. – Congressman Kevin Cramer supported bipartisan legislation passed by the House of Representatives to provide tariff relief on imported goods for American manufacturers.
H.R. 4318, the Miscellaneous Tariff Bill (MTB), would amend the Harmonized Tariff Schedule of the U.S. to modify certain rates of duty. This bill allows Congress to temporarily suspend or reduce tariffs on certain imports for three years. Reducing tariffs cuts manufacturing costs, thus allowing companies to redirect funds to increasing wages and job creation.
“In addition to providing relief to companies through tax reform, the Miscellaneous Tariff Bill will temporarily reduce cumbersome tariffs and duties for manufacturers,” said Cramer. “American businesses will become far more globally competitive as a result of this bill which will help create jobs right here in the United States while also benefiting consumers.”
In 2012, the MTB expired and for the past six years many manufacturers have not had the resources needed to compete with foreign entities.
Cramer has heard from Wahpeton based manufacturers whose facilities rely on imports of key inputs for which there is no domestic supply and would otherwise have to pay significant import duties. These inputs are critical in order to manufacture the products made in the U.S. The Cargill facility in Cramer’s district is one example of the many manufacturers whose lowered expenses as a result of this bill can ensure production is kept in the United States. H.R. 4318 awaits further action by the Senate.
According to the National Association of Manufacturers, the Miscellaneous Tariff Bill Act of 2018 will:
- Provide more than $1.1 billion of much-needed tariff relief to American manufacturers over the next three years for certain imported products unavailable in the United States.
- Increase American manufacturing output by more than $3.1 billion over the next three years – helping manufacturers create jobs, increase paychecks, and invest in our nation’s economy.
- Encourage more manufacturing in the United States by leveling the playing field for American businesses to compete, while also maintaining the incentive for manufacturers to develop the capability to produce products that today cannot be found the United States.
News Release originally appeared https://cramer.house.gov/media-center/press-releases/cramer-manufacturers-get-tariff-regulatory-relief