Miscellaneous Tariff Bill Signing is praised by manufacturers.
Press Release Summary:
NAM President and CEO John Engler's statement, made after President Obama signed U.S. Manufacturing Enhancement Act of 2010, noted that this bill "will provide a needed boost to both large and small companies." Engler went on to say that this "legislation will also cut the costs of doing business in the United States and boost American manufacturing exports." He also said that additional work was needed, by Congress and Administration, to help lower trade barriers to increase exports.
Original Press Release:
Manufacturers Praise President's Signing of Miscellaneous Tariff Bill
Further Action Is Needed to Increase Exports and Boost Manufacturing
WASHINGTON, D.C. - The National Association of Manufacturers (NAM) President and CEO John Engler issued the following statement today after President Obama signed the U.S. Manufacturing Enhancement Act of 2010 (H.R. 4380).
"Manufacturers are pleased that President Obama signed the Miscellaneous Tariff Bill into law today, which will provide a needed boost to both large and small companies. The NAM has been working relentlessly to educate Congress on the importance of this bill and how it will preserve and expand good American jobs. This legislation will also cut the costs of doing business in the United States and boost American manufacturing exports. In fact, studies show that these provisions can increase production by $4.6 billion and support almost 90,000 jobs.
Manufacturers of all sizes use the vital tariff suspensions contained in the Miscellaneous Tariff Bill to obtain raw materials, proprietary inputs and other products that are not available in our nation. Without them, the costs of these companies' products will inevitably increase, forcing them to pass on these costs to consumers. This hinders competitiveness and translates into lost jobs for American workers.
We thank members of the House and Senate for passing this important jobs-creating legislation; however, additional work is needed by both Congress and the Administration to help lower trade barriers to increase exports. Today's report that exports decreased in June further illustrates why action is needed now.
Recently, the NAM released a "Manufacturing Strategy for Jobs and a Competitive America," which outlines a comprehensive plan for increasing exports and growing manufacturing in the face of unprecedented global competition. It sets high goals and calls for action on policies such as tax, trade, energy, infrastructure and regulation. To learn more about the Strategy, visit www.nam.org."
-NAM-
The National Association of Manufacturers is the nation's largest industrial trade association, representing manufacturers in every industrial sector and in all 50 states. Manufacturing has a presence in every single congressional district providing good, high-paying jobs. For more information about the Manufacturers or to follow us on Shopfloor, Twitter and Facebook, please visit www.nam.org.
CONTACT:
Jeff Ostermayer (202) 637-3090
