119th (2025–2027)
H.R. 3986
The Small Business Liberation Act would exempt small businesses from certain import duties that were imposed under a national emergency declaration made on April 2, 2025. The bill applies to goods imported by or for use of small business concerns, using the standard Small Business Administration definition of what qualifies as a small business. By removing these import duties for small businesses, the legislation aims to reduce regulatory and financial burdens on smaller companies that may be disproportionately affected by emergency tariffs or trade restrictions. The bill does not specify new funding requirements or implementation timelines, but rather creates a categorical exemption from existing duties that have already been imposed.