Bill > S2777

This bill, known as the Small Business RELIEF Act, aims to provide relief to small businesses affected by a national emergency declared on April 2, 2025. Specifically, the bill exempts small business concerns from paying duties (import taxes) imposed under Executive Order 14257 and mandates that the President refund any such duties already paid within 90 days of the bill's enactment. The bill uses the Small Business Act's definition of a "small business concern," which typically refers to businesses that meet certain size standards based on the number of employees or annual revenue, depending on their industry. By offering this exemption and refund, the legislation seeks to reduce the economic burden on small businesses during a national emergency, potentially helping them maintain financial stability and continue operations despite additional import-related costs.

Budget and Finance

https://www.congress.gov/bill/119th-congress/senate-bill/2777/all-info