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Small Business Liberation Act: Exempting Small Firms from Emergency Import Duties

This bill aims to exempt small businesses from paying import duties imposed under a recent national emergency declaration. This means small firms importing goods will avoid these extra tariffs, potentially lowering their operational costs and stabilizing prices for consumers. The exemption applies only to businesses meeting the federal definition of a small business.
Key points
Small businesses will be exempt from duties imposed pursuant to the national emergency declared on April 2, 2025.
Financial relief for small enterprises: importing goods becomes cheaper, helping them maintain competitiveness and financial stability.
The exemption applies to goods imported by or for the use of small business concerns, as defined in the Small Business Act.
article Official text account_balance Process page
Introduced
Citizen Poll
No votes cast
Additional Information
Print number: 119_S_1593
Sponsor: Sen. Markey, Edward J. [D-MA]
Process start date: 2025-05-05
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Summarized by: gemini-flash-latest
Source data: api.congress.gov
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OFFICIAL LEGAL TITLE

Small Business Liberation Act

FREQUENTLY ASKED QUESTIONS

What is the official ID of this bill?

The official print number for this legislation is 119_S_1593.

Which chamber initiated this legislation?

This legislation was initiated in the Senate.

When did the legislative process begin?

The process officially started on 2025-05-05.

What are the main provisions?

Key points include:

  • Small businesses will be exempt from duties imposed pursuant to the national emergency declared on April 2, 2025.
  • Financial relief for small enterprises: importing goods becomes cheaper, helping them maintain competitiveness and financial stability.
  • The exemption applies to goods imported by or for the use of small business concerns, as defined in the Small Business Act.
What is the specific legal status?

The current status is Introduced.

Where can I read the full text of this legislation?

The full official text is available at: View full text

Who is the primary sponsor?

The primary sponsor is Sen. Markey, Edward J. [D-MA].

What is the latest detailed status?

The latest detailed status is: Introduced in Senate

Is this summary verified?

Yes. This content was analyzed by AI and verified by the Lustra Judge System on 2025-12-31.

CATEGORIES

Economy Taxes