Bill Temporarily Suspends or Reduces Taxes on Products Companies Rely On That Aren't Made Domestically
Today, as Hoosier businesses continue to climb out of this recession, Brad Ellsworth voted to provide tax relief for U.S Manufacturers to help them compete in the global economy:
"For too long Hoosier manufacturers have been at a disadvantage as they compete against their global competitors. Today's bill helps level that playing field for businesses by lowering costs for materials American businesses need to produce their goods which will help restore American manufacturing and promote competitiveness, innovation and exports," Said Brad Ellsworth.
"Hoosier businesses all across the state say this bill will stimulate the Indiana economy and create an environment for them to start hiring workers."
U.S. Manufacturing Enhancement Act key facts:
* The U.S. Manufacturing Enhancement Act (H.R. 4380), helps U.S. manufacturers compete at home and abroad by temporarily suspending or reducing duties on intermediate products or materials these companies use that are not made domestically or opposed by domestic producers.
* The bill is estimated to support tens of thousands of jobs, helping increase U.S. production and expand our GDP by billions of dollars.
* The bill is supported by over 130 businesses, including the Chamber of Commerce and National Association of Manufacturers.