Bill · S. 3841· Senate(119-S-3841)
Last Sale Valuation Act of 2026
- Introduced
- 2/11/2026
- Last activity
- 2/11/2026 — Read twice and referred to the Committee on Finance.
- Sponsored by
- Bill Cassidy
- Cosponsors
- - 0 - 1
- Introduced
- In Committee
What this bill would do
This bill, known as the "Last Sale Valuation Act of 2026," proposes changes to the Tariff Act of 1930. It specifically aims to modify how transaction value is determined for customs valuation purposes. The legislation clarifies what it means for merchandise to be "sold for exportation to the United States." It provides specific definitions for transactions involving a single sale and transactions involving a series of sales. Additionally, it expands the scope of information available regarding adjustments.
Yes· 3 of 4
Does this make trade with other countries easier?+3
The bill provides clearer definitions for transaction value in single and series-of-sales scenarios, which can reduce ambiguity in international trade transactions.
Would business owners be better off under this?+2
The bill provides more predictable standards for customs valuation for businesses engaged in international trade.
Does this tighten control of the border?+2
The bill enhances the oversight capabilities of U.S. Customs and Border Protection by granting them access to books and records following adjustments.
The opposite
No question was scored the opposite.
Who it would affect, and how
Potential Positive Impacts for People
-
Clearer definition for single sales: For transactions involving just one sale, the bill defines the value as the price actually paid or payable by the buyer in the United States to the seller in another country (Section 2, subsection (b)(4)(C)(i)).
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Clearer definition for multiple sales: In cases involving a series of sales, the bill defines the value based on the price paid by the buyer in the United States for the last sale that introduces the merchandise into the country (Section 2, subsection (b)(4)(C)(ii)).
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Increased oversight capabilities: The bill expands the ability of U.S. Customs and Border Protection to access books and records following an adjustment (Section 2, subsection (h)(5)).
Potential Negative Impacts for People
- No negative impacts are explicitly stated in the provided text.
Groups and Interests Ranking
Every group the model scored this bill for, from -10 to +10. Hover a score for the reason it gave.
- National Security And Foreign Policy
- Improves International Trade+3
- Demographic And Interest Groups
- Good For Business Owners+2
- Social Issues And Justice
- Improves Border Security+2
- Governance And Ideology
- Improves Government Transparency+1
- 2/11/2026
- Read twice and referred to the Committee on Finance.
- 1 Cosponsor added.
- Introduced in Senate
Sheldon WhitehouseDemocrat · Rhode Island