0
Leveling the Playing Field 2.0 Act
3/12/2024, 9:26 AM
Summary of Bill S 1856
One of the key provisions of the Leveling the Playing Field 2.0 Act is the establishment of a public financing system for congressional elections. This system would provide matching funds for small donations made to candidates, in an effort to reduce the influence of big money in politics and give everyday citizens a greater voice in the electoral process.
Additionally, the bill includes measures to increase transparency in campaign finance, such as requiring political advertisements to disclose their top donors and funding sources. This is aimed at preventing outside groups from exerting undue influence on elections without the knowledge of the public. Furthermore, the Leveling the Playing Field 2.0 Act seeks to strengthen enforcement of existing campaign finance laws and increase penalties for violations. By holding candidates and political organizations accountable for their fundraising and spending activities, the bill aims to promote integrity and fairness in the electoral process. Overall, the Leveling the Playing Field 2.0 Act is a comprehensive piece of legislation that aims to level the playing field in US elections by reducing the influence of money in politics, increasing transparency, and promoting accountability. If passed, this bill has the potential to create a more equitable and democratic political system in the United States.
Congressional Summary of S 1856
Leveling the Playing Field 2.0 Act
This bill addresses unfair trade practices by making various changes to U.S. antidumping and countervailing duty law. Antidumping provides relief to U.S industries and workers that are materially injured or threatened with injury due to imports of like products sold in the U.S. market at less than fair value, while countervailing duty provides such relief from imports of products subsidized by a foreign government or public entity.
Specifically, the bill establishes a process for successive antidumping and countervailing duty investigations. Successive investigations may be concurrent (an ongoing investigation of the same product) or recently completed (not more than two years before the date of the initiation of the successive investigation). Further, the bill establishes a time line for the Department of Commerce to issue determinations in successive investigations.
Among other provisions, the bill authorizes Commerce to
- apply countervailing duty law to subsidies provided by a foreign government or public entity to a company operating in a third country,
- use another method for calculating the cost of production in specific circumstances, and
- require importers to provide a certification that the imported merchandise is not subject to an antidumping or countervailing duty order.
Additionally, the bill statutorily establishes procedures for Commerce to conduct circumvention inquiries, including by specifying the deadlines for preliminary and final determinations.
The bill also provides statutory authority for Commerce to investigate currency undervaluation as a countervailable subsidy.
