The Society of Chemical Manufacturers and Affiliates (SOCMA) has commended the U.S. House of Representatives for helping create and preserve thousands of U.S. chemical manufacturing jobs by passing the Miscellaneous Tariff Bill (MTB), a key legislative priority for SOCMA and its members.
The MTB, a compilation of individual duty suspensions bills, reduces production
costs by waiving duties on raw materials imported into the U.S. The legislation
assists chemical manufacturers of all sizes to import production components
that are not available in the U.S.
without absorbing additional costs.
“SOCMA, along with the broader business community, has been advocating for the
swift passage of this bill and welcomes today’s vote in Congress,” said
Lawrence D. Sloan, SOCMA president and CEO. “The duty suspension
provisions have a direct impact on the bottom line of SOCMA members. The cost savings
achieved by the MTB will allow small and mid-sized batch chemical manufacturers
to maintain competitive operations, invest in new facilities, retrain workers,
and preserve our industry base.”
For more information, visitwww.socma.com.
SOCMA Releases Statement on Miscellaneous Tariff Bill
July 23, 2010