Tax Law Updates | New Statutes, Regulations, and Rulings
August 12, 2010
Miscellaneous Tariff Bill, Renamed As the U.S. Manufacturing Enhancement Act of 2010, Is Now a Law
U.S. Manufacturing Enhancement Act of 2010
H.R. 4380, 8/11/2010
President Barack Obama has signed H.R. 4380, the U.S. Manufacturing Enhancement Act of 2010, into law.
The legislation contains hundreds of tariff suspensions and reductions which would help American companies grow and support further job creation. Despite opposition by the Republican House leadership, the measure passed easily by a vote of 378-43.
Commonly referred to as the Miscellaneous Tariff Bill (MTB), the new law is estimated to support tens of thousands of American jobs, helping to increase U.S. production and expand gross domestic product (GDP) by billions of dollars, according to the House Ways and Means Committee.
Provisions included in the…
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