Senate Passes $71M in Tariff Relief for NC’s Manufacturers, Legislation Sent Back to the House
WASHINGTON, D.C. – U.S. Representative Mark Walker (R-N.C.) today released the following statement after the U.S. Senate passed H.R. 4318, the Miscellaneous Tariff Bill (MTB) Act of 2018:
“Today, we saw more evidence of how delivering on our promise to cut taxes on hardworking families and businesses has helped our nation prosper with the announcement of 4.1 percent second quarter growth. Tariffs on imported goods are a tax on American families and businesses, especially when those tariffs are on imported materials needed for American manufacturing, but unavailable domestically. Passing the Miscellaneous Tariff Bill Act will help our workers continue to thrive without government intervention or the choosing of winners and losers in the economy.”
The U.S. House of Representatives passed this legislation on January 16, 2018. The text was amended prior to Senate passage, meaning the House will revote on the legislation before it goes to the President's desk for approval.
To learn more about this legislation, please read the information here or below in a release from January 15, 2018.
WASHINGTON, D.C. – U.S. Representative Mark Walker (R-N.C.) today released the following statement after H.R. 4318, the Miscellaneous Tariff Bill (MTB) Act of 2018 was scheduled for a vote in the U.S. House of Representatives for Tuesday, January 16th:
“This legislation will remove harmful and useless penalties that punish manufacturers for hiring and investing in our communities. We have worked hard to deliver on this reform that will lead to millions of dollars being reinvested in North Carolina as we continue to lead the nation in manufacturing and economic growth. It is my hope that my colleagues will move quickly to send this bipartisan bill to the President’s desk.”
This bill is the result of efforts by Walker and Members of the House Ways and Means Committee in the 114th Congress on H.R. 4923, the American Manufacturing Competitiveness Act – legislation that revived and reformed a process for American businesses to apply for a suspension of harmful tariffs on materials that are needed, but not made in the United States.
Part of that process is for businesses to petition the independent, non-partisan International Trade Commission (ITC), and following review and rejection based on any request that would impact a U.S. producer, the ITC reports the petitions to Congress for consideration as legislation. The collection of those petitions is the Miscellaneous Tariff Bill (MTB) Act of 2018.
“[Walker] was the champion for this,” Leib Oehmig, President and Chief Operating Officer of Glen Raven Inc. in Glen Raven, N.C., said. (See Oehmig’s full testimony to Congress in a 2016 hearing here.)
SEE RELATED: Local Business Praises Walker for His Work on the Passage of the American Manufacturing Competitiveness Act
To learn more about the American Manufacturing Competitiveness Act, watch the video below which features Vern Hawkins, President of Crop Protection at Syngenta in Greensboro, N.C., explaining the economic impact these tariffs have on their business and the North Carolina economy.
Looking at the MTB petitions that make up the Miscellaneous Tariff Bill (MTB) Act of 2018, one thing is clear, North Carolina is a big winner. The legislations consists of 1,686 petitions – American manufacturers who need to purchase materials for production that are not available in the United States. Of those 333 petitions, 19.75%, are manufacturers in North Carolina, more than any other state. That represents a savings of $71 million in 2018, also the most in the nation.
Examples of manufacturers in North Carolina’s 6th congressional district who will be impacted by this legislation are:
- Syngenta of Greensboro, N.C. | 47 petitions representing $13.7 million
- Glen Raven Inc. of Glen Raven, N.C. | 9 petitions representing $6.4 million
- Revlon Inc. of Oxford, N.C. | 4 petitions representing $1.9 million
- BGF Industries Inc. of Greensboro, N.C. | 2 petitions representing $445,900
These needless taxes, which do nothing to support the production of American products, drive up production costs and ultimately the final costs of the product being manufactured. This relief will help North Carolina’s manufacturers free up their resources, hire more employees and grow overall business in our local communities.
Manufacturing represents more than one-fifth of North Carolina’s total output and employs more than 10% of the state’s workforce.