Bill Details
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View cosponsors (20)
- Rep. Beyer, Donald S. [D-Virginia-8]
- Rep. DelBene, Suzan K. [D-Washington-1]
- Rep. Sewell, Terri A. [D-Alabama-7]
- Rep. Schneider, Bradley Scott [D-Illinois-10]
- Rep. Whitesides, George [D-California-27]
- Rep. Thanedar, Shri [D-Michigan-13]
- Rep. Costa, Jim [D-California-21]
- Rep. Quigley, Mike [D-Illinois-5]
- Rep. Moskowitz, Jared [D-Florida-23]
- Rep. Fletcher, Lizzie [D-Texas-7]
- Rep. Sherrill, Mikie [D-New Jersey-11]
- Rep. Titus, Dina [D-Nevada-1]
- Rep. Kamlager-Dove, Sydney [D-California-37]
- Rep. Stanton, Greg [D-Arizona-4]
- Rep. Walkinshaw, James R. [D-Virginia-11]
- Rep. Horsford, Steven [D-Nevada-4]
- Rep. Strickland, Marilyn [D-Washington-10]
- Rep. Cleaver, Emanuel [D-Missouri-5]
- Rep. Davids, Sharice [D-Kansas-3]
- Rep. McBride, Sarah [D-Delaware]
AI Summary This summary was generated by AI from the bill text. AI can get information wrong.
This bill would take away a power in current trade law that lets the government put extra fees on imports when the United States has a balance of payments deficit. In simple terms, it would remove a tool the president could use to raise import costs for that reason. The bill is mainly a narrow change to trade law, and it does not create a new program or replace the power with another one.
- It repeals Section 122 of the Trade Act of 1974.
- That section is the part of law that allows certain import surcharges to help deal with balance of payments problems.
- If passed, the federal government would no longer have this specific authority under that law.
Official Summaries
Reclaim Trade Powers Act
This bill repeals the statute that directs the President to take certain actions, such as imposing a tariff of up to 15% for up to 150 days on articles imported into the United States, when necessary to address large and serious U.S. balance-of-payments deficits or certain other situations that present fundamental international payments problems.
Current Full Text
[Congressional Bills 119th Congress]
[From the U.S. Government Publishing Office]
[H.R. 2459 Introduced in House (IH)]
<DOC>
119th CONGRESS
1st Session
H. R. 2459
To amend the Trade Act of 1974 to eliminate the authority to impose
certain import surcharges to address balance of payments deficits, and
for other purposes.
_______________________________________________________________________
IN THE HOUSE OF REPRESENTATIVES
March 27, 2025
Mr. Panetta (for himself, Mr. Beyer, Ms. DelBene, Ms. Sewell, and Mr.
Schneider) introduced the following bill; which was referred to the
Committee on Ways and Means
_______________________________________________________________________
A BILL
To amend the Trade Act of 1974 to eliminate the authority to impose
certain import surcharges to address balance of payments deficits, and
for other purposes.
Be it enacted by the Senate and House of Representatives of the
United States of America in Congress assembled,
SECTION 1. SHORT TITLE.
This Act may be cited as the ``Reclaim Trade Powers Act''.
SEC. 2. ELIMINATION OF BALANCE OF PAYMENTS AUTHORITY.
Section 122 of the Trade Act of 1974 (19 U.S.C. 2132) is repealed.
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