Breaking News

SOCMA Welcomes Miscellaneous Tariff Bill

July 18, 2013

Duty suspension would benefit US chemical firms.

The Society of Chemical Manufacturers and Affiliates (SOCMA) welcomed the introduction in the House of Representatives of the Miscellaneous Tariff Bill (MTB), thereby helping create and preserve thousands of US chemical manufacturing jobs, according to the organization.


 
“SOCMA commends House Ways and Means Committee Chairman Dave Camp and Ranking Member Sander Levin for spearheading this bipartisan bill,” said SOCMA President & CEO Lawrence D. Sloan. “The coordination on this bill has taken much effort over many months. We appreciate the work from agencies and Congress that went into this legislation.”


 
The MTB is a compilation of individual duty suspension bills introduced by members on behalf of companies in their Congressional district or, in the case of a Senator, their state. The bills request a duty be suspended on a specific input into a manufacturing process.


 
According to SOCMA, the MTB is crucial for its member companies and manufacturers of all sizes who face higher tariffs on inputs not otherwise available in the US. The last MTB passed by Congress in 2010 had been estimated to support more than 90,000 manufacturing jobs and 3.5 billion in GDP growth. The tariff savings from inputs that are not domestically manufactured lowers the cost of manufacturing, making U.S. companies more competitive. 

 

“The MTB allows SOCMA members to continue to support American jobs, reinvesting in innovative businesses and workers,” Sloan added. “With the majority of our members being small and medium sized, this represents one to two jobs at any given facility.”


blog comments powered by Disqus
  • Kitchen Counter Cosmetics

    Kitchen Counter Cosmetics

    Christine Esposito, Associate Editor||May 2, 2016
    LOLI box marks the convergence of natural and organic ingredients, subscription service and DIY cosmetic chemistry.

  • What’s New at La Prairie?

    What’s New at La Prairie?

    Melissa Meisel, Associate Editor||April 25, 2016
    VP of marketing shares the latest buzz with Happi.

  • Mapping Out Multicultural Beauty

    Mapping Out Multicultural Beauty

    April 25, 2016
    Agnieszka Saintemarie of Kline Group about current trends and challenges in multicultural beauty.

  • Bite Now

    Bite Now

    Christine Esposito, Associate Editor||May 2, 2016
    Is the time finally right for beauty-from-within to move into the mainstream?

  • Boxed Out?

    Boxed Out?

    Tom Branna, Editorial Director||May 2, 2016
    Salon sales outpace mass-market results in the highly competitive, highly fashionable and yes, highly-colorful hair color cat

  • That’s Awesome!

    That’s Awesome!

    May 2, 2016
    Extracts & Ingredients highlights the newest ideas in efficacious oils for the personal care market.