Trade Groups, Companies Ask for MTB Renewal on Omnibus Bill
More than 200 businesses and trade groups, led by the National Association of Manufacturers, are asking House and Senate leadership to include a renewal of the Miscellaneous Tariff Bill in the spending bill Congress is working to pass this month. The omnibus appropriations bill, which covers the fiscal year that began Oct. 1, is attracting lobbying on many trade priorities, including the alcohol excise tax reduction for small producers, the Generalized System of Preferences benefits program, and more.
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The Dec. 4 letter said that without MTB renewal, importers would pay more than $1.3 million a day in tariffs, and if the MTB were to expire over the long term, there would be $1.5 billion in tariffs paid over three years for products that are currently in the MTB.
“The Miscellaneous Tariff Bill Act of 2018 passed the House by a 402-0 vote, passed the Senate by unanimous consent and was signed by President [Donald] Trump,” they reminded lawmakers.