WASHINGTON, DC – Yesterday, the U.S. Senate passed H.R. 4923, the American Manufacturing Competitiveness Act, by unanimous consent. Because the House of Representatives passed an identical bill by a vote of 415-2 on April 27, H.R. 4923 will be sent to President Obama for his expected signature into law.
Endorsed by the National Council of Textile Organizations (NCTO), H.R. 4923 reforms the process by which Congress will consider future Miscellaneous Tariff Bill (MTB) legislation. Through the MTB, Congress temporarily suspends or reduces tariffs on certain imported products not made in the United States to help American manufacturers reduce costs, create jobs, and compete in the global marketplace.
“This is a big win for U.S. manufacturing,” said NCTO President and CEO Augustine Tantillo. “We thank the Senate for moving the House bill quickly,” he continued.
“NCTO also would like to thank Finance Committee Chairman Senator Orrin Hatch (R-UT), Ways and Means Committee Chairman Kevin Brady (R-TX), and the many other members of the House and Senate who worked so diligently to secure this victory for American workers,” Tantillo added.
“The MTB is essential to American competitiveness because U.S. textile manufacturers reinvest the duty savings to boost jobs and innovation,” Tantillo finished.
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CONTACT: Lloyd Wood