"We are extremely pleased by the introduction of a
bill that would, at long last, establish a new process for the enactment of a
Miscellaneous Tariff Bill," said William E. Allmond,
SOCMA Vice President of Government and Public Relations. "The proposed
bill is a positive step forward in creating and delivering an open and
transparent process for both chambers to consider manufacturing tax cuts, which
will benefit many American manufacturers.
"Passage of the MTB is especially critical to our
SOCMA member companies, of which about 80 percent are small and medium-sized
manufacturers," Allmond said. "Without duty suspensions provided
through the MTB, our members are paying millions of dollars more for raw
materials and intermediate products that are not available to them in the United States
but are essential to their manufacturing processes. The cost savings help our
members maintain competitive operations, invest in new facilities, re-train
workers, and preserve our manufacturing base."
The proposed bill would require a review of domestic
availability, including public comments, by the International Trade Commission
(ITC), an independent, non-partisan agency. After its analysis, the ITC would
then issue a public report to Congress recommending certain products that meet
the MTB tests. Congress would then be able to consider the MTB within existing
"We strongly urge Congress to work quickly and
jointly to pass a new MTB process that allows each chamber to set up MTB
processes consistent with their rules," Allmond said.
Since 1921, SOCMA has represented a diverse membership of small,
medium and large chemical companies located around the world. www.socma.com.
Director, Communications &
SOURCE Society of Chemical Manufacturers and Affiliates