In this high inflation economy, passing the MTB will help reduce the cost of some additives that are necessary to manufacture vinyl products consumers rely on every day.
WASHINGTON (PRWEB) April 27, 2022
The Vinyl Institute signed a letter to Congress with 207 companies and industry groups supporting tariff relief. The coalition letter asks government leaders to include the Miscellaneous Tariff Bill (MTB) in the final manufacturing competitiveness legislation that combines the United States Innovation and Competition Act with the America COMPETES Act. If approved, the MTB would temporarily remove or reduce anti-competitive tariffs on goods that are not made domestically or are not available in sufficient quantities in the United States. The last MTB expired on Dec. 31, 2020.
“In this high inflation economy, passing the MTB will help reduce the cost of some additives that are necessary to manufacture vinyl products consumers rely on every day,” said Kevin Koonce, VP of Government Affairs for the Vinyl Institute. “This is an opportunity for Congress to support jobs, manufacturing competitiveness and economic growth in the United States by removing an artificial price hike – and they should make the repeal retroactive.”
About Miscellaneous Tariff Bills:
According to the Office of the U.S. Trade Representative, the Committee on Ways and Means in the House of Representatives has initial jurisdiction over legislation to amend the U.S. tariff schedule and to make corrections to trade legislation. Miscellaneous Tariff Bills (MTBs) enact the temporary reduction or suspension of duties on certain U.S. imports or other technical corrections to the U.S. Harmonized Tariff System.
About the Vinyl Institute:
The Vinyl Institute (VI), founded in 1982, is a U.S. trade association representing the leading manufacturers of vinyl, vinyl chloride monomer, vinyl additives, and modifiers. The VI works on behalf of its members to promote the benefits of the world’s most versatile plastic, used to make everything from PVC piping to flooring, roofing and vinyl siding. The vinyl industry in the United States employs over 350,000 highly skilled employees at nearly 3,000 facilities and generates an economic value of $54 billion. For more information, visit vinylinfo.org.