Rep. Adrian Smith, U.S. Representative for Nebraska's 3rd District | Adrian Smith Official Website
Rep. Adrian Smith, U.S. Representative for Nebraska's 3rd District | Adrian Smith Official Website
Today, Ways and Means Committee Trade Subcommittee Chair Adrian Smith (R-NE) introduced the Miscellaneous Tariff Bill Reform Act. The legislation, supported by 19 Republican colleagues including 17 fellow Ways and Means Committee members, aims to reduce input costs for American industry.
Chairman Smith stated, "Renewing the Miscellaneous Tariff Bill is essential to reducing barriers for American manufacturing and agriculture, supporting jobs, private sector growth, and our overall economic competitiveness, while upholding Congress’ constitutional authority over trade." He further criticized the Biden administration for placing new hurdles in the path of American manufacturers. Smith stressed that renewing this historically bipartisan legislation is vital for making U.S.-manufactured goods more competitive in both domestic and international markets.
The cosponsors include representatives from across the country. The legislation has also received support from numerous stakeholder groups such as the National Association of Manufacturers (NAM), the American Chemistry Council (ACC), and CropLife America (CLA).
Chris Netram, NAM Managing Vice President of Policy said, “Restoring the MTB would strengthen manufacturing here at home...Historically, the MTB has always had bipartisan support...We urge the House to act quickly so that we can get one step closer to getting this critical legislation to President Biden’s desk."
Chris Jahn, President and CEO of ACC lauded Chairman Smith's leadership stating that passage of this bill would significantly benefit U.S. domestic chemical manufacturing by reducing production costs.
Alexandra Dunn, President and CEO of CLA expressed appreciation for Representative Smith’s leadership in re-establishing an MTB process that allows for investments to support research and development.
The MTB Reform Act aims to approve duty-free treatment of products recommended under a certain application process until December 31, 2025. It also provides retroactive duty relief on those items back to January 1, 2021. The act proposes technical changes to align exemptions with recent revisions of the Harmonized Tariff Schedule and reauthorizes the ITC-based process for future Miscellaneous Tariff Bills.
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