HR 3986
Small Business Liberation Act
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- Passed Senate
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Bill overview
This bill aims to protect small businesses from certain import duties imposed during a national emergency. Specifically, it exempts small businesses, as defined by the Small Business Act, from duties related to goods imported for their use. The bill focuses on alleviating a financial burden on smaller companies impacted by the existing national emergency declaration. It does not alter the underlying national emergency declaration itself.
Key provisions
- Exempts small businesses from specific import duties.
- Defines ‘small business concern’ using the Small Business Act definition.
- Applies to goods imported for the use of small businesses.
- Relates to duties imposed by Executive Order 14257.
Who is affected
- Small businesses
- Importers
- Businesses importing goods
Notable changes
- Provides a targeted exemption for small businesses regarding import duties.
Sponsors
Official sponsors from legislative records.
Primary sponsor
Cosponsors
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119th CONGRESS — 1st Session
H. R. 3986
IN THE HOUSE OF REPRESENTATIVES
A BILL
To exempt small business concerns from duties imposed pursuant to the national emergency declared on April 2, 2025, by the President.
The Act may be cited as the Small Business Liberation Act
.
Duties imposed pursuant to Executive Order 14257 (90 Fed. Reg. 15041) shall not apply with respect to goods imported by or for the use of small business concerns, as defined in section 3 of the Small Business Act (15 U.S.C. 632).