WASHINGTON, D.C. --- Congressman Leonard Lance (NJ-07), Vice Chair of the Commerce, Manufacturing and Trade Subcommittee, today issued the following statement after voting in favor of H.R. 4923, the American Manufacturing Competitiveness Act: “For far too long American manufacturers have faced hundreds of millions of dollars in unnecessary tariff costs.

Those costs have hindered domestic production, decreased investment, increased consumer prices and hurt U.S. competitiveness in the global marketplace,” said Lance, who has toured dozens of Garden State businesses as part of his dialogue on how Washington policies can spur job creation.

“It’s time to level the playing field and put American companies that hire American workers on more equal footing.”

American manufacturers often rely on resources and materials in short supply in the United States. When these resources are imported to the U.S. they are hit with a tariff, or tax, forcing companies to pay more for these necessities and increasing the costs for consumers.

As a result, American manufacturing has experienced an effective tax hike of $748 million and the U.S. economy has seen a $1.875 billion loss, according to the National Association of Manufacturers. H.R. 4923 reforms this tariff and tax break system to keeps costs down across the board, making American manufacturers more competitive.

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