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S4049119th CongressWALLET

Reclaim Trade Powers Act

Sponsored By: Senator Sen. Kaine, Tim [D-VA]

Introduced

Summary

Repeals the federal balance-of-payments trade authority. This bill would repeal Section 122 of the Trade Act of 1974, eliminating the statutory authority for balance-of-payments measures and removing Section 122 from the act's table of contents. It also strikes cross-references to section 122(c) and makes clerical and conforming edits.

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Bill Overview

Analyzed Economic Effects

1 provisions identified: 0 benefits, 0 costs, 1 mixed.

Remove presidential trade balance power

This bill would repeal Section 122 of the Trade Act of 1974, removing the President's balance-of-payments trade authority. It would also strike Section 122 from the Trade Act table of contents and delete a cross-reference in section 127(b). If enacted, this would limit one statutory tool presidents use to order trade actions, like tariffs or import restrictions. That would likely lower the chance of some trade limits for importers and consumers but would also remove a possible protection tool for some U.S. producers and workers. The bill would not create new funding, programs, or eligibility rules.

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Sponsors & CoSponsors

Sponsor

Sen. Kaine, Tim [D-VA]

VA • D

Cosponsors

  • Raphael Warnock

    GA • D

    Sponsored 3/11/2026

  • Sen. Wyden, Ron [D-OR]

    OR • D

    Sponsored 3/11/2026

  • Angus King

    ME • I

    Sponsored 3/11/2026

  • Sen. Coons, Christopher A. [D-DE]

    DE • D

    Sponsored 3/11/2026

  • Peter Welch

    VT • D

    Sponsored 3/11/2026

  • Sen. Warner, Mark R. [D-VA]

    VA • D

    Sponsored 3/11/2026

  • Chris Van Hollen

    MD • D

    Sponsored 3/11/2026

  • Amy Klobuchar

    MN • D

    Sponsored 3/11/2026

  • Jacky Rosen

    NV • D

    Sponsored 3/11/2026

  • Sen. Alsobrooks, Angela D. [D-MD]

    MD • D

    Sponsored 3/11/2026

  • Sen. Heinrich, Martin [D-NM]

    NM • D

    Sponsored 3/11/2026

  • Sen. Murray, Patty [D-WA]

    WA • D

    Sponsored 3/11/2026

  • Sen. Durbin, Richard J. [D-IL]

    IL • D

    Sponsored 3/12/2026

  • Sen. Shaheen, Jeanne [D-NH]

    NH • D

    Sponsored 3/17/2026

  • Sen. Schiff, Adam B. [D-CA]

    CA • D

    Sponsored 3/17/2026

Roll Call Votes

No roll call votes available for this bill.

View on Congress.gov
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