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S. 4038 (119th Congress)Committee
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Small Business Liberation 2.0 Act

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Summary

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The bill would exempt small business concerns from duties imposed under section 122 of the Trade Act of 1974 and require the President to refund covered duties already paid on goods imported by or for small businesses within 90 days of enactment. It would also prohibit any person from selling covered goods at unreasonably high prices for five years after a covered or planned duty takes effect, with a presumption of violation on duty-related shock dates for persons with "unfair leverage" (defined to include non-small-business entities), enforced by the Federal Trade Commission and by state attorneys general. Small businesses are exempt from the price-gouging prohibition.

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