SOCMA Welcomes House Introduction Of Miscellaneous Tariff Bill
Duty Suspension Bill Will Benefit U.S. Chemical Firms of All Sizes
WASHINGTON, July 17, 2013 /PRNewswire-USNewswire/ -- The Society of Chemical Manufacturers and Affiliates (SOCMA) today welcomed the introduction in the House of Representatives of the Miscellaneous Tariff Bill (MTB), thereby helping create and preserve thousands of U.S. chemical manufacturing jobs.
"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.The MTB is crucial for SOCMA member companies and manufacturers of all sizes who face higher tariffs on inputs not otherwise available in the U.S. 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." SOCMA looks forward to working with the members of the House and Senate towards successful passage. About SOCMA SOCMA is the only U.S.-based trade association dedicated solely to the batch, custom and specialty chemical industry. Since 1921, we have represented a diverse membership of small, medium and large chemical companies, making us the leading authority on this sector. SOCMA has a global membership of 220 companies, which employ more than 46,000 workers in the U.S. alone. The value of the products and services provided by SOCMA members is $24 billion, and the industry's impact on the U.S. GDP is upwards of $2.9 trillion. To learn more, visit www.SpecialtyManufacturing.org . Contact: Christine SanchezDirector, Public Relations & Media (202) 721-4182 SOURCE Society of Chemical Manufacturers and Affiliates
Select the service that is right for you!COMPARE ALL SERVICES
Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Upgrade/downgrade alerts
Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.
- Real Money + Doug Kass + 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV