Small Business Liberation 2.0 Act

Key Points

• Small businesses would be completely exempt from tariffs imposed under the Trade Act of 1974's balance-of-payments authority. Any tariffs already paid by small businesses since January 20, 2026 would have to be refunded within 90 days of the bill becoming law.
• The bill creates a new federal ban on price gouging for goods subject to tariffs. Large companies cannot raise prices beyond the actual cost of the tariff itself, and the ban applies for 5 years after a tariff takes effect or is even publicly announced as planned.
• Small businesses get a double advantage: they don't pay the tariffs AND they are exempt from the price gouging rules, giving them pricing flexibility that larger competitors would not have.
• The FTC and state attorneys general would enforce the price gouging ban. Companies with 'unfair leverage' — meaning they are not small businesses — face a legal presumption of guilt if they raise prices above pre-tariff averages during periods of rapid tariff changes.
• The FTC must set up a consumer complaint system within 180 days and publish annual reports on enforcement. The International Trade Commission and Bureau of Labor Statistics must also jointly publish yearly reports tracking prices of goods sold by large companies.

Votes

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Related Bills

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