Americans for Tax Reform Add Support for MTB Process
Americans for Tax Reform President Grover Norquist gave his support for the Miscellaneous Tariff Bill (MTB) process. The MTB is essential to providing relief to America’s beleaguered producers and consumers, said Norquist in a letter to Congress. By reducing or eliminating duties on imports, the MTB lowers input costs for domestic manufactures, which increases the competitiveness of American goods and puts additional savings in the pockets of consumers, the letter said.
Sign up for a free preview to unlock the rest of this article
Export Compliance Daily combines U.S. export control news, foreign border import regulation and policy developments into a single daily information service that reliably informs its trade professional readers about important current issues affecting their operations.
As American manufacturers continue to face stiff competition from abroad, it is imperative that American goods remain competitive with Asian and European goods and without action, Americans would be forced to pay artificially high prices for consumer goods, said Norquist. As Congress and the Administration look for solutions to the nation’s economic woes, enacting commonsense policies that will boost output and lower the cost of business will do much more in the immediate and long term to grow the economy and augment job creation than government spending, the letter said. It is important to remember that legislation that reduces or eliminates tariffs on imports is not an earmark, but market-based consumer tax relief, he said.
(See ITT's Online Archives 12040239 for a summary of the House Ways and Means and Senate Finance Committees announcements of the beginning of the MTB process).