Reclaim Trade Powers Act
Sponsored By: Representative Panetta
Introduced
Summary
Removes federal authority to impose balance-of-payments import surcharges. This bill would repeal Section 122 of the Trade Act of 1974 (19 U.S.C. 2132), eliminating the statutory basis for import surcharges meant to address balance of payments deficits.
Bill Overview
Analyzed Economic Effects
1 provisions identified: 1 benefits, 0 costs, 0 mixed.
Remove federal power to add import surcharges
This bill would repeal Section 122 of the Trade Act of 1974. That section lets the federal government add short-term surcharges on imports to address balance of payments deficits. Without it, the government would not be able to add those extra import charges. Importers and businesses would face less risk of sudden surcharge costs. Shoppers could see less chance of price jumps from such surcharges. The change would take effect upon enactment.
Sponsors & CoSponsors
Sponsor
Panetta
CA • D
Cosponsors
Beyer
VA • D
Sponsored 3/27/2025
DelBene
WA • D
Sponsored 3/27/2025
Sewell
AL • D
Sponsored 3/27/2025
Schneider
IL • D
Sponsored 3/27/2025
Whitesides
CA • D
Sponsored 4/9/2025
Thanedar
MI • D
Sponsored 4/14/2025
Costa
CA • D
Sponsored 4/21/2025
Quigley
IL • D
Sponsored 4/21/2025
Moskowitz
FL • D
Sponsored 4/28/2025
Fletcher
TX • D
Sponsored 4/30/2025
Sherrill
NJ • D
Sponsored 6/4/2025
Titus
NV • D
Sponsored 2/23/2026
Kamlager-Dove
CA • D
Sponsored 2/23/2026
Stanton
AZ • D
Sponsored 2/23/2026
Roll Call Votes
No roll call votes available for this bill.
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