WASHINGTON — November 12, 2014 — The National Council of Textile Organizations (NCTO) calls on Congress to move quickly to pass the long unresolved Miscellaneous Tariff Bill (MTB) to boost U.S. manufacturing, exports, and employment.
Passage of the MTB will help U.S. manufacturers compete on the global stage by temporarily suspending or reducing duties on manufacturing inputs or materials that are not made domestically. Such reductions or suspensions decrease costs for U.S. businesses and ultimately increase the competitiveness of their products. Unfortunately, Congress has failed to pass an MTB since the bill’s expiration at the end of 2012.
Following the recent mid-term elections, congressional leaders and President Obama indicated that trade related issues would be a likely area of cooperation for early action in the next Congress. NCTO believes that the MTB should be a top priority as key congressional committees and the White House map out a legislative trade agenda in the 114th Congress.
“We must invest in our manufacturing sector and domestic economy by creating an environment which encourages U.S. businesses to grow and compete on a global scale,” stated NCTO president and CEO, Augustine Tantillo. “By suspending duties on inputs and component materials which are not produced in the United States, American businesses will be able to cut costs and better compete with offshore producers for markets both at home and abroad.”
“Frankly, the failure to approve a miscellaneous tariff bill is a classic example of the legislative dysfunction that has gripped Washington in recent years. For decades the MTB was a non-controversial, bipartisan initiative. There is no good reason that this critical issue should remain unresolved,” said Tantillo.
Tantillo concluded by stating that “The National Council of Textile Organizations looks forward to working with members of the House and Senate, as well as congressional leaders, to gain approval of this critically important legislation to the U.S. textile and apparel industry.”
The U.S. textile and apparel industry is a significant contributor to the overall U.S. economy, producing over $70 billion in annual output. In addition, the U.S. textile and apparel sector exported nearly $24 billion in goods in 2013. Importantly, this industry is a major employer in the in United States, providing jobs for nearly 500,000 workers from fiber production to finished product in 2013. Additionally, for every one direct textile or apparel job, there are three additional jobs supported within the U.S. economy.
Posted November 18, 2014
Source: NCTO
