S.Res.281 - Commemorating the 95th anniversary of the enactment of the Tariff Act of 1930. (119th Congress)
Summary
S.Res.281 commemorates the 95th anniversary of the Tariff Act of 1930, also known as the Smoot-Hawley Tariff Act. The resolution reflects on the negative consequences of protectionist trade policies. It highlights the Act's contribution to the Great Depression due to retaliatory tariffs and a dramatic reduction in international trade.
Expected Effects
The resolution serves as a reminder of the dangers of protectionism. It affirms the importance of rules-based trade policies that promote economic growth and international cooperation. It is unlikely to have any immediate legislative effect but could influence future trade policy discussions.
Potential Benefits
- Serves as a historical reminder of the negative impacts of protectionist trade policies.
- Affirms the importance of international trade and economic cooperation.
- Encourages policymakers to avoid repeating past policy mistakes.
- Promotes awareness of the benefits of rules-based trade policies.
- Supports policies that reduce production costs for farmers and manufacturers.
Potential Disadvantages
- The resolution itself has no direct disadvantages as it is commemorative.
- However, the discussion could open the door for renewed debates on trade policy.
- Focusing solely on the negative aspects of the 1930 Tariff Act might oversimplify complex economic issues.
- It could potentially be used to criticize current trade policies, regardless of their actual impact.
- There are no immediate disadvantages to the American people.
Constitutional Alignment
The resolution aligns with the spirit of promoting the general welfare, as stated in the Preamble of the US Constitution. Congress has the power to regulate commerce with foreign nations (Article I, Section 8, Clause 3). The resolution does not infringe upon any specific constitutional rights or limitations.
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).