INDA supports bipartisan Miscellaneous Tariff Bill, fears tax hikes

A bipartisan bill to either eliminate or reduce import tariffs on raw materials and intermediate products that U.S. manufacturers need and can’t get domestically was applauded by INDA, Association of the Nonwoven Fabrics Industry, when it was introduced in the U.S. House of Representatives July 17. Duty relief under the last Miscellaneous Tariff Bill (MTB) expired at the end of 2012, and failure to pass the current measure “will mean a tax hike on manufacturers of $748 million and economic losses of $1.857 billion over the next three years alone,” says Jessica Franken, INDA director of government affairs. Sponsors for the MTB include both the chair and ranking members of the House Ways & Means Committee and the Trade Subcommittee.