WASHINGTON - Senate Finance Committee Chairman Orrin Hatch (R-Utah) yesterday joined Speaker of the House Paul Ryan (R-Wis.) and House Ways and Means Committee Chairman Kevin Brady (R-Texas) in signing H.R. 4923, the American Manufacturing Competitiveness Act, a bipartisan bill support American manufacturers. Specifically, the bill advances a process for American businesses and manufacturers to petition the government for temporary reductions and suspensions on duties on products that are vital components of the production of American-made goods.
Background:
Hatch advanced Miscellaneous Tariff Reform (MTB) legislation as part of a broader Customs reform bill in Spring 2015, which the Senate later passed. However, the MTB provision was not included in the final Customs conference package that later became law. As a result, Hatch coauthored the Senate version of the American Manufacturing Competitiveness Act of 2016. After identical companion legislation passed the House of Representatives by a vote of 415-2, the Senate advanced the bill by unanimous consent. The bill now will go to the President’s desk for signature. The bill caps a successful era in the Senate Finance Committee for trade legislation, following the passage of several monumental trade bills, including the bipartisan Congressional Trade Priorities and Accountability Act of 2015 (TPA).
Source: Ranking Member’s News
