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Last Sale Valuation Act of 2026

This bill changes how the value of imported goods is calculated for customs purposes, potentially affecting the price of foreign products. Taxes will now be based on the final price paid to bring the goods into the U.S.
Key points
Customs duties will be calculated based on the last sale price before the goods enter the country.
U.S. Customs and Border Protection gains broader access to financial books and records for verification.
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Status: Introduced
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Additional Information
Print number: 119_S_3841
Sponsor: Sen. Cassidy, Bill [R-LA]
Process start date: 2026-02-11
System Note: Lustra is free, publicly auditable civic infrastructure — full source code available on GitHub. You are reading sterilized legislative data, processed by our radical neutrality engine to strip political spin and retain factual mechanics. We process only official government data. Original documents remain the authoritative source—always verify them if you can.
Summarized by: gemini-flash-latest
Source data: api.congress.gov
AI work logs for this document launch

OFFICIAL LEGAL TITLE

Last Sale Valuation Act of 2026

FREQUENTLY ASKED QUESTIONS

What is the official ID of this bill?

The official print number for this legislation is 119_S_3841.

Which chamber initiated this legislation?

This legislation was initiated in the Senate.

When did the legislative process begin?

The process officially started on 2026-02-11.

What are the main provisions?

Key points include:

  • Customs duties will be calculated based on the last sale price before the goods enter the country.
  • U.S. Customs and Border Protection gains broader access to financial books and records for verification.
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. Cassidy, Bill [R-LA].

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 2026-02-26.

What is the impact of this bill?

We don't know—that is up to you to decide. Summarizing raw data with AI is fundamentally different from predicting socio-economic outcomes. As of 2026, we believe impact assessment strictly requires a human in the loop to verify and judge.

CATEGORIES

Economy Taxes