H.R.3292 - Reviewing Economic and Protection Objectives for Reciprocal Tariffs Act; REPORT Act (119th Congress)
Summary
H.R. 3292, the REPORT Act, mandates increased transparency regarding tariff modifications. It requires the President to publish detailed justifications for tariff increases or decreases in the Federal Register at least 48 hours before they take effect. Additionally, the United States Trade Representative (USTR) must brief relevant congressional committees within seven days of any tariff modification decision.
Expected Effects
This bill will likely lead to greater public awareness of the rationale behind tariff changes. It also aims to enhance congressional oversight of executive trade decisions. This could potentially slow down the implementation of tariff modifications due to the required justification and briefing processes.
Potential Benefits
- Increased transparency in tariff modification decisions.
- Enhanced congressional oversight of trade policy.
- Greater public awareness of the economic and protection objectives behind tariff changes.
- Potential for more informed public debate on trade policy.
- Could lead to more predictable trade policies.
Most Benefited Areas:
Potential Disadvantages
- Potential delays in implementing necessary tariff adjustments due to procedural requirements.
- Increased administrative burden on the executive branch.
- Possible politicization of tariff decisions due to increased scrutiny.
- Risk of information overload for the public, potentially obscuring key details.
- May create friction between the executive and legislative branches.
Constitutional Alignment
The bill appears to align with the Constitution's emphasis on checks and balances by increasing congressional oversight of executive actions related to tariffs. While Article I, Section 8 grants Congress the power to regulate commerce, this bill seeks to ensure transparency and accountability in the executive branch's use of delegated authority related to tariffs. The reporting requirements do not appear to infringe on any specific constitutional provision.
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).