American Manufacturing Competitiveness Act is law
July 7, 2016
Source: Specialty Fabrics Review
The U.S. Senate passed the American Manufacturing Competitiveness Act of 2016 by unanimous consent, following the passage of an identical bill by the House of Representatives (H.R. 4923). President Barack Obama signed the bill into law on May 20. Endorsed by the National Council of Textile Organizations (NCTO), the legislation reforms the process by which Congress will consider future Miscellaneous Tariff Bill (MTB) legislation. Through the MTB, Congress temporarily suspends or reduces tariffs on certain imported products not made in the U.S. to help American manufacturers reduce costs, create jobs, and compete in the global marketplace.