The House Ways and Means Committee approved a manufacturing bill on Wednesday that was backed by U.S. Rep. Erik Paulsen (R-MN) to even the playing field for manufacturers and small businesses.
The American Manufacturing and Competitiveness Act, H.R.4923, would establish a new Miscellaneous Tariff Bill (MTB) process that would provide duty relief to American businesses and manufacturers.
“This commonsense proposal will help Minnesota manufacturing – making it easier to create jobs, lower costs, increase U.S. production and grow the economy,” Paulsen, a member of the House Ways and Means Committee, said. “Passing the bipartisan miscellaneous tariff bill is a surefire way to help domestic manufacturers boost their hiring.”
A previous MTB approved in 2010 supported 90,000 manufacturing jobs and increased production by $4.6 billion. The law expired in 2012, which led to $748 million in increased taxes for job creators.
Under a new MTB process outlined in the bill, petitions could be brought directly from local businesses to the International Trade Commission. Previously, members introducing bills initiated the process.
“We tried to create a very open process and timetable that we’re all very aware of,” U.S. Rep. Kevin Brady (R-TX), the chairman of the House Ways and Means Committee, said. “In this case, it’s a three-step process: Initiating the MTB process through the ITC publicly; the ITC analyzing it and seeking public comment as it has in the past; and step three is the exercise of our constitutional role because it is the committee that takes those recommendations, puts this in a MTB proposal and begins the regular order that we would with any bill.”