Bill > HR4726

This bill, called the "Educational Toy Tax Relief Act," aims to prevent the President from imposing or maintaining duties on specific baby and children's items under the International Emergency Economic Powers Act (IEEPA). The bill specifically prohibits duties on products for children under three years old, including tricycles, scooters, pedal cars, playpens, play yards, baby swings, and educational toys. The legislation requires the President to terminate any existing duties on these items that were previously imposed through IEEPA and declares that any substantially similar duties from other presidential authorities would be considered invalid. By removing these duties, the bill seeks to reduce the cost of children's products and potentially make them more affordable for families. The International Emergency Economic Powers Act is a law that allows the President to regulate economic transactions and impose restrictions during national emergencies, and this bill specifically limits its application to the listed children's items.

Budget and Finance

https://www.congress.gov/bill/119th-congress/house-bill/4726/all-info