From the Associated Press:
WASHINGTON — President Barack Obama has signed a bill meant to reduce costs for U.S. manufacturers and help them regain their footing in the shaky economy.
The law would reduce and suspend tariffs (i.e. - taxes) on certain materials U.S. companies must import to make their products. It passed both houses of Congress with bipartisan support.
The president signed the bill into law in a ceremony in the East Room of the White House.
The National Association of Manufacturers says the new law will help create jobs, cut costs for businesses and consumers and boost U.S. exports. The industry trade group says studies show the bill would increase production by $4.6 billion and support 90,000 jobs.
Please allow me to repeat part of that last sentence....Cutting taxes on things that we import will "help create jobs, cut costs for businesses and consumers and boost U.S. exports. The industry trade group says studies show the bill would increase production by $4.6 billion and support 90,000 jobs."
Now, let's apply that same logic and reasoning to ALL imports. Do you think that would help us prosper? Would tearing down our current insane protectionist tariffs against sugar and wheat help American families?
Well, the really long answer is....yes.
So can someone please explain to me, using little bitty words that I can understand, why it is that Numb Nuts will sign a bill lowering taxes on imported raw material (because that will help the economy and create jobs) but he's wanting to let the Bush tax cuts expire?