Amendment · S.Amdt. 2540· Senate(119-SAMDT-2540)

S.Amdt. 2540

Age: 49 years

Oklahoma

Introduced: 6/29/2025
Sponsored by: Markwayne Mullin
Cosponsors: None

Changes bill: 119-HR-1 — One Big Beautiful Bill Act

Introduced
Pending Consideration
Failed

This amendment was never taken up, and the bill finished without it. It was never voted on.

What this amendment would do

This amendment, submitted by Mr. Mullin, is about keeping track of tax refunds and drawbacks on certain goods. Plain and common sense: it makes sure that if someone exports or destroys substituted merchandise, the tax refund or drawback they get cannot be bigger than the actual taxes that were paid on that substituted merchandise in the first place.

Purpose and Changes

Effective date: It applies to claims filed on or after July 1, 2026.
What it changes: It sets a hard limit on the amount of drawback granted under the Internal Revenue Code or the Tariff Act of 1930.
The exact rule: The drawback amount cannot exceed the amount of taxes that were actually paid and not previously returned by refund, credit, or drawback on the substituted merchandise.