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S3841119th CongressWALLET

Last Sale Valuation Act of 2026

Sponsored By: Senator Cassidy, Bill [R-LA]

Introduced

Summary

Makes the last sale into the United States the standard for customs transaction value. It would also expand U.S. Customs and Border Protection's access to books and records for valuation adjustments.

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  • Importers and U.S. buyers would have the transaction value tied to the price paid in the final sale that brings goods into the United States. This changes which sale sets the value used for customs valuation.
  • Sellers abroad and intermediate sellers would no longer be the primary price reference when a later U.S. sale exists. The last domestic sale would determine the transaction value in chains of multiple sales.
  • U.S. Customs and Border Protection would gain explicit authority to access books and records for valuation adjustments. That gives CBP clearer access to documents it can use when reviewing or changing declared values.

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Bill Overview

Analyzed Economic Effects

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

Sets which sale price counts for duties

If enacted, the bill would define "sold for exportation to the United States" for customs valuation. For a single-sale transaction, it would use the price actually paid or payable by the U.S. buyer to the foreign seller. For a chain of sales, it would use the price paid by the U.S. buyer in the last sale that brings the goods into the United States. This change would determine which price is used to compute customs duties and could raise duties for some imports and lower them for others; no effective date is shown in the excerpt.

New CBP access to import records

If enacted, the bill would expressly authorize U.S. Customs and Border Protection to access import books and records for valuation adjustments. Importers, customs brokers, and other holders of import records would need to provide those records on request. This could lead to more audits and modest compliance costs. The excerpt contains no effective date or sunset.

Sponsors & CoSponsors

Sponsor

Cassidy, Bill [R-LA]

LA • R

Cosponsors

  • Sen. Whitehouse, Sheldon [D-RI]

    RI • D

    Sponsored 2/11/2026

Roll Call Votes

No roll call votes available for this bill.

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