The U.S. House of Representatives voted 415-2 on Wednesday to pass H.R. 4923, the American Manufacturing Competitiveness Act of 2016. The legislation would strengthen accountability and effectiveness in the Miscellaneous Tariff Bill (MTB) process, which provides tax relief to many U.S. manufacturers by reducing tariffs on products not otherwise available domestically.
“This legislation will streamline and modernize the Miscellaneous Tariff Bill process while fully upholding the House’s strict earmark ban,” said U.S. Congressman Kenny Marchant (TX-24). “If a North Texas manufacturer requires specific materials for production that cannot be purchased domestically, they will have to import those products. This can mean paying costly tariffs that drive up prices for American businesses and consumers. But, through the earmark-free MTB process outlined by this bill, we have an accountable way to reduce certain tariffs and provide our businesses with tax relief they can use to grow and create jobs. This legislation takes crucial steps to protect taxpayers, promote competition, and support the American manufacturers who give life to our economy. ”
The American Manufacturing Competitiveness Act has been endorsed by numerous advocacy organizations and industry groups, including Americans for Tax Reform, National Association of Manufacturers, and National Taxpayers Union.
Additional information about the bill can be found here.