S.1593 - Small Business Liberation Act (119th Congress)
Summary
The Small Business Liberation Act (S.1593) aims to exempt small businesses from duties imposed due to a national emergency declared on April 2, 2025. The bill, introduced in the Senate, seeks to alleviate the financial burden on small businesses resulting from these duties. It references Executive Order 14257 and defines small businesses according to section 3 of the Small Business Act.
Expected Effects
If enacted, this bill would reduce the cost of imported goods for small businesses during a declared national emergency. This could improve their financial stability and competitiveness. However, it may also reduce revenue collected from duties, potentially impacting government finances.
Potential Benefits
- Reduced financial burden on small businesses during national emergencies.
- Increased competitiveness for small businesses.
- Potential for job preservation within small businesses.
- Simplification of import processes for eligible businesses.
- Could foster a more resilient small business sector.
Most Benefited Areas:
Potential Disadvantages
- Potential reduction in government revenue from duties.
- Possible competitive disadvantage for larger businesses that don't qualify for the exemption.
- Increased complexity in customs enforcement and administration.
- Potential for abuse of the exemption by businesses misclassifying themselves as small businesses.
- May not address the underlying issues causing the national emergency.
Most Disadvantaged Areas:
Constitutional Alignment
The bill appears to align with the Constitution, particularly Article I, Section 8, which grants Congress the power to regulate commerce and lay and collect duties. The bill is an exercise of this power, modifying the application of existing duties for a specific class of businesses. There are no apparent violations of individual rights or freedoms as defined in the Bill of Rights.
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).