Small Business Restoring Equity for Local Importers through Economic Fairness Act; Small Business RELIEF Act
Summary
The "Small Business Restoring Equity for Local Importers through Economic Fairness Act," also known as the "Small Business RELIEF Act," aims to exempt small businesses from duties imposed under the national emergency declared on April 2, 2025. It also seeks to refund any such duties already paid by small businesses. The bill defines "small business concern" according to section 3 of the Small Business Act (15 U.S.C. 632).
Expected Effects
If enacted, this bill would reduce the financial burden on small businesses importing goods. It would provide them with exemptions from certain duties and refunds for duties already paid. This could improve their competitiveness and financial stability.
Potential Benefits
- Reduced financial burden on small businesses due to tariff exemptions.
- Refunds of duties already paid, providing immediate financial relief.
- Improved competitiveness for small businesses in the import sector.
- Potential for increased investment and job creation within small businesses.
- Simplified import processes for small businesses, reducing administrative costs.
Most Benefited Areas:
Potential Disadvantages
- Potential reduction in government revenue due to duty exemptions and refunds.
- Possible competitive disadvantage for larger businesses that do not qualify for the exemption.
- Increased administrative burden on government agencies to process refunds.
- Risk of businesses misclassifying themselves as "small" to gain the exemption.
- Potential for unintended consequences in international trade relations.
Most Disadvantaged Areas:
Constitutional Alignment
The bill aligns with the Commerce Clause (Article I, Section 8, Clause 3) by regulating international trade in a way that impacts domestic businesses. Congress has the power to regulate commerce with foreign nations. The bill's focus on providing relief to small businesses could be seen as promoting the general welfare, as stated in the Preamble of the Constitution.
Impact Assessment: Things You Care About ⓘ
This action has been evaluated across 19 key areas that matter to you. Scores range from 1 (highly disadvantageous) to 5 (highly beneficial).