Small Business RELIEF Act
The Small Business RELIEF Act would shield small business concerns from import duties imposed under the national emergency declared on April 2, 2025, and would require the President to refund any such duties paid on goods imported by or for the use of a small business. The exemption applies specifically to duties tied to Executive Order 14257, and the refunds would be issued within 90 days after the bill’s enactment. The bill defines “small business concern” using the Small Business Act’s standard, ensuring eligibility is tied to the same criteria used to determine small business status for other government programs. In short, the measure aims to provide immediate financial relief to small importers facing emergency-related duties, while shifting the cost of that relief to the federal government. Potential effects include reduced input costs for eligible small businesses that rely on imported goods, potential impacts on duties revenue (short-term loss to the Treasury if duties would have otherwise been collected), and a new administrative task for government agencies to verify eligibility and process refunds promptly.
Key Points
- 1Exemption from duties: Duties imposed pursuant to Executive Order 14257 do not apply to goods imported by or for the use of a small business concern.
- 2Required refunds: Within 90 days of enactment, the President must refund the amount of any duties paid on goods imported by or for the use of a small business concern.
- 3Eligibility standard: “Small business concern” is defined as it is in section 3 of the Small Business Act (15 U.S.C. 632).
- 4Scope of the bill: Applies specifically to duties related to the national emergency declaration and the referenced executive order (Executive Order 14257, 90 Fed. Reg. 15041).
- 5Short title: The act may be cited as the Small Business Restoring Equity for Local Importers through Economic Fairness Act or the Small Business RELIEF Act.