Washington, DC – Today, the House passed H.R. 4923, the American Manufacturers Competitiveness Act, with strong bipartisan support. The vote was 415 to 2. The bill was introduced by Ways & Means Committee Chairman Kevin Brady (TX-8) and Rep. Rokita is an original cosponsor.
“The American Manufacturers Competiveness Act protects industries like textiles, pharmaceuticals, and manufacturing from $750 million in onerous annual taxes that other nations are already waiving. This is funding that can be used to invest in high-quality Hoosier jobs,” said Rep. Rokita.
The bill, which restores a process that allows American manufacturers to request waivers on certain tariffs, has support from the manufacturing community in Indiana.
“Indiana is the country’s most manufacturing intensive state, and Hoosier businesses participate in the global economy. Helping eliminate these miscellaneous tariffs will reduce costs and lower incentives to relocate manufacturing operations abroad, keeping good jobs here,” said Brian Burton, President and CEO of Indiana Manufacturers Association.
The American Manufacturer Competitiveness Act creates a process to request waivers on tariffs for products not found or produced in the United States for which there is no domestically available counterpart. Any products considered for tariff waivers will need to be vetted by the International Trade Commission (ITC) and made publicly available for review before being considered by Congress. This legislation is now pending before the Senate.
