HR3982Referred to Committee

To establish a Tariff Response and Damages to Exports fund, and for other purposes.

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Introduced
In Committee
3
Passed One Chamber
4
Passed Both
5
Signed into Law
119th
Congress
2025-06-12
Introduced
2
Cosponsors
HR
ⓘ
Type

Sponsor

Julia Letlow
Julia Letlow
Republican · LA · Representative
Votes with party: 98.9% (568 recorded votes)

Full profile: /officials/L000595

Source: Congress.gov · FEC

Cosponsors (2)

Members who have signed on to support this bill since introduction. Source: Congress.gov.

Latest Action

The most recent step in the bill's legislative path. Committee Activity below shows referrals and reports; the full action-by-action history including floor proceedings lives at Congress.gov →

Referred to the Committee on Ways and Means, and in addition to the Committee on Agriculture, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned.

2025-06-12

Source: Congress.gov

Committee Activity

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Plain-English Summary

This bill establishes the Tariff Response And Damages to Exports Fund within the Treasury, authorizes certain revenues collected from duties (e.g., tariffs) on certain agricultural products to be deposited into the fund, and requires the Department of Agriculture (USDA) to use the fund to make payments to agricultural producers affected by trade-related market disruptions. Specifically, the bill authorizes the President to deposit into this fund any revenues collected from duties on imported products that are classified under Chapters 1-24 of the Harmonized Tariff Schedule of the United States (which includes, among other products, live animals, animal and vegetable products, seafood, prepared foodstuffs, and beverages). USDA must use any amounts deposited into the fund to make payments to agricultural producers that have been affected by trade-related marketed disruptions, including losses USDA determines are due to (1) decreased exports, (2) tariff or non-tariff barriers imposed by foreign countries, or (3) increases in the costs of items and goods necessary for the production of agricultural commodities and livestock. USDA must annually report to Congress on the total revenues transferred into the fund, the economic impacts on affected agricultural producers, and a summary of assistance provided to these agricultural producers. The authorities provided by the bill terminate on September 30, 2030, and the bill permanently rescinds the unobligated balances of all amounts available in the fund as of this date.

Plain-English rewrite of the Congressional Research Service summary published on Congress.gov. Cached and reviewed.

Subjects

Foreign Trade and International Finance
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