By Ian Swanson - 07/20/10 06:12 PM EDT
Members submit duty suspension proposals that they believe would benefit U.S. importers or producers, and each proposal goes through a vetting process meant to ensure the suspended tariff on an imported product does not come at the expense of a domestic manufacturer.
Staff on the Senate Finance Committee and House Ways and Means Committee, as well as the independent U.S. International Trade Commission, review each tariff request, according to the Ways and Means panel.
Relief provided under the bill is temporary; if a U.S. business begins manufacturing a covered product and the business objects to the extension, it will not be extended when it is up for renewal.
Democrats on Tuesday pressed their GOP colleagues to support
the bill, and framed the legislation as a boost for the troubled economy. Democrats have titled
their legislation the U.S. Manufacturing Enhancement Act of 2010, and a House vote could come as early as Wednesday.
“This bill is a shot in the arm for U.S. manufacturers who need these products to keep making their goods and supporting American jobs,” said Rep. Sandy Levin (D-Mich.), chairman of the Ways and Means panel.
He said he hoped Republicans would support the legislation, which he said included help for businesses in their districts.
The Congressional Budget Office estimated the bill would cost $168.8 million in lost revenue in fiscal year 2011.