Conservative Group Seeks Removal of Import Tariffs on Inputs, Finished Products
Congress should eliminate all tariffs on imports of finished products and inputs, and immediately slash all tariffs that generate less than $500,000 per year in federal government revenue, which is the threshold for miscellaneous tariff bill (MTB) requests, said Michael Needham, CEO of Heritage Action for America, on the RealClearPolitics website (here). While some might find the "economics controversial," the approach would “align neatly” with the customs reauthorization bill headed to President Barack Obama’s desk for signature, which includes language that calls for an end to a competitive disadvantage to U.S. manufacturers and consumers resulting from such duties (see 1512080030), Needham said.
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Congress should also consider possible ways to end tariffs on products that produce even more revenue, he said. "Congress could establish a new system for American companies to request relief from tariffs that generate more than half a million dollars in revenue per year," he said. "This process could put the U.S. International Trade Commission (ITC) in the position to receive requests, vet requests and recommend reductions to Congress. Such recommendations would obviously have to directly benefit more than ten companies to avoid running afoul of the House’s earmark moratorium, but the overall approach would resemble an earlier plan" passed by the Senate (see 1504200017). The debate over MTB and whether such tariff suspensions count as earmarks has prevented Congress from renewing the program for several years.