Bipartisan Legislation Will End $1 Million a Day Tax on Manufacturers
Washington, D.C. – National Association of Manufacturers (NAM) President and CEO Jay Timmons released the following statement after unanimous, bipartisan passage of MTB legislation:
Manufacturers will now be better equipped to compete and win against companies in China, Europe and elsewhere because the House and Senate have finally moved this legislation. This bill will end the $1 million a day tax that manufacturers and other American businesses have endured just for buying parts and supplies they need. We thank House and Senate leadership and committee leaders from both parties who moved this legislation, and we look forward to seeing President Trump sign this bill into law for America’s manufacturing workers.
The NAM has been a leading advocate for passing the bipartisan MTB legislation since welcoming its introduction in November. Today, the NAM led a letter of 150 business organizations urging the House to boost manufacturing by passing the MTB, and in March, the NAM released a blog on the benefits of the MTB for manufacturers. Following Senate passage of an amended version of the bill in July, the NAM applauded the vote and urged the House to approve the Senate-passed legislation. Click here for testimonials from manufacturers in America on the importance of passing the MTB.
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The National Association of Manufacturers (NAM) is the largest manufacturing association in the United States, representing small and large manufacturers in every industrial sector and in all 50 states. Manufacturing employs more than 12 million men and women, contributes $2.25 trillion to the U.S. economy annually, has the largest economic impact of any major sector and accounts for more than three-quarters of private-sector research and development. The NAM is the powerful voice of the manufacturing community and the leading advocate for a policy agenda that helps manufacturers compete in the global economy and create jobs across the United States. For more information about the Manufacturers or to follow us on Shopfloor, Twitter and Facebook, please visit www.nam.org.