July 27, 2010
Scott Mulhauser/Erin Shields (Baucus)
Baucus Lauds Passage of Bipartisan Package to Create U.S. Jobs and Help U.S. Companies Compete
Miscellaneous Tariff Bill Passes the Senate Unanimously, Heads to President to be Signed into Law
Washington, DC – Senate Finance Committee Chairman Max Baucus (D-Mont.) lauded unanimous Senate passage today of a package of trade bills designed to help U.S. companies import the products they need to manufacture goods in the United States. This package, known as the U.S. Manufacturing Enhancement Act or miscellaneous tariff bill, suspends or reduces tariff duties for imported products that are not domestically available to make it cheaper for U.S. manufacturers and small businesses to make and sell their products.
“This bill will make it cheaper and easier for American small businesses and manufacturers to make their products here at home and compete around the world. This legislation is exactly the kind of smart, targeted relief U.S. companies need to create and maintain good-paying American jobs,” Baucus said. “I thank my colleagues on both sides of the aisle and in both houses of Congress for working together to pass this legislation quickly.”
Baucus has been working for months with his colleagues in the House and Senate to craft miscellaneous tariff legislation that meets the needs of American manufacturers and small businesses. Congress worked with U.S. employers to craft the miscellaneous tariff bill that passed tonight, which includes both new tariff suspensions and extensions of expired suspensions. And Baucus will continue to work with the business community and his colleagues to pass additional miscellaneous tariff legislation that meets the Committee’s standards and clears the Administration’s vetting process.
The miscellaneous tariff bill is a package of bills sponsored by individual members of Congress that is designed to provide relief to U.S. companies that import foreign products not available in the United States. Before an individual tariff bill is eligible for inclusion in the larger miscellaneous tariff bill, it must meet specific standards determined by Congress. For example, all individual bills included in the miscellaneous tariff bill must be non-controversial, meaning no member of Congress or domestic producer objects to the bill. And no individual bill can result in a total estimated annual revenue loss of more than $500,000 to the U.S. Treasury. All bills undergo a vigorous vetting process by the International Trade Commission, the U.S. Customs and Border Protection Agency and the Department of Commerce to ensure they meet all established criteria before they are included in the larger package.
The U.S. Manufacturing Enhancement Act, H.R.4380, passed the Senate by unanimous consent tonight and will now be sent to the President to be signed into law. Legislative text is available on the Finance Committee website at: http://finance.senate.gov/legislation/details/?id=2aadb897-a654-8ceb-2d2c-817c0de32338.