Small Business Liberation 2.0 Act
Sponsored By: Senator Edward Markey
Introduced
Summary
This bill would exempt small businesses from certain import duties under the federal balance-of-payments authority and require refunds of duties paid within 90 days. It would also ban duty-driven price gouging for five years and give the Federal Trade Commission primary authority for enforcement and reporting.
Show full summary
- Consumers: Prices on covered goods would face a five-year prohibition on duty-driven gouging. The bill defines an "unreasonably high price" as increases beyond duty-related costs plus added business costs and uses a 180-day pre-duty average as the baseline.
- Small businesses: Firms that meet the Small Business Act definition would be excluded from covered duties on imported final goods and components. The bill includes special rules for goods assembled in the United States and for planned duties.
- Enforcement and data: The Federal Trade Commission must create a consumer reporting tool within 180 days and may investigate alleged violations. State attorneys general can bring parens patriae suits on behalf of residents. The International Trade Commission and Bureau of Labor Statistics must produce an initial report within one year and annual price and data sufficiency reports thereafter.
Your PRIA Score
Personalized for You
How does this bill affect your finances?
Sign up for a PRIA Policy Scan to see your personalized alignment score for this bill and every other piece of legislation we track. We analyze your financial profile against policy provisions to show you exactly what matters to your wallet.
Bill Overview
Analyzed Economic Effects
3 provisions identified: 3 benefits, 0 costs, 0 mixed.
Tariff refunds and exemptions for small businesses
If enacted, a qualifying small business would be exempt from covered duties on imports it uses. If enacted, the President would have to refund any covered duties a small business already paid. Refunds would be paid not later than 90 days after enactment. The small business definition would follow section 3 of the Small Business Act.
Ban on tariff-driven price spikes
This bill would ban selling a covered good at an unreasonably high price for five years after a covered duty took effect, was increased, or a planned duty was shown. Covered goods would include final goods and components tied to duties imposed on or after January 20, 2026. The bill would measure unlawful price increases against the 180-day average price before the duty or planned-duty event. On a duty-related shock date (30-day lookback affecting 5 or more HTS subheadings), there would be a presumption of violation if a seller with unfair leverage raised prices above that 180-day average, unless the seller proves by clear and convincing evidence that all increases were caused by duty-related and other legitimate costs.
FTC enforcement and price monitoring
This bill would let the Federal Trade Commission write rules to enforce the price ban and require it to consult trade and statistics agencies when doing so. The Commission would set up phone, mail, and web ways for people to report suspected violations within 180 days. The Commission would publish an enforcement report to Congress and the public within one year and every year after. The International Trade Commission and BLS would also publish a yearly price report, and BLS must check or add survey questions before the first report. States could sue on behalf of their residents, but they must notify the FTC so the Commission can intervene.
Free Policy Watch
You just read the policy. Now see what it costs you.
Pick a topic. PRIA runs your household against live legislation and sends you a free personalized readout.
Pick a topic to get started
Sponsors & CoSponsors
Sponsor
Edward Markey
MA • D
Cosponsors
Mazie Hirono
HI • D
Sponsored 3/10/2026
Charles Schumer
NY • D
Sponsored 3/10/2026
Kirsten Gillibrand
NY • D
Sponsored 3/10/2026
John Hickenlooper
CO • D
Sponsored 3/10/2026
Amy Klobuchar
MN • D
Sponsored 3/10/2026
Chris Van Hollen
MD • D
Sponsored 3/10/2026
Jacky Rosen
NV • D
Sponsored 3/10/2026
Roll Call Votes
No roll call votes available for this bill.
View on Congress.govTake It Personal
Get Your Personalized Policy View
Start a Free Government Policy Watch to see how policy affects your household, then upgrade to PRIA Full Coverage for year-round monitoring.
Already have an account? Sign in