0
0
0
To amend the Tariff Act of 1930 to treat certain merchandise as unused merchandise for drawback purposes.
12/19/2024, 9:06 AM
Summary of Bill HR 7864
Bill 118 hr 7864, also known as the "Unused Merchandise Drawback Act," aims to amend the Tariff Act of 1930 in order to classify certain merchandise as unused for the purpose of drawback. Drawback is a process that allows for the refund of duties paid on imported goods that are subsequently exported or destroyed.
The bill specifies that merchandise will be considered unused if it has not been used or altered in any way after being imported into the United States. This includes goods that have not been processed, assembled, or incorporated into other products. By treating these goods as unused, importers will be eligible to receive drawback refunds on the duties paid when the merchandise was brought into the country.
The goal of this legislation is to provide importers with a financial incentive to export unused merchandise, thereby promoting international trade and economic growth. By allowing for drawback refunds on these goods, the bill aims to reduce the financial burden on importers and encourage them to participate in global commerce. Overall, the Unused Merchandise Drawback Act seeks to streamline the drawback process and make it easier for importers to receive refunds on duties paid for unused merchandise. This could potentially lead to increased exports and a boost to the US economy.
The bill specifies that merchandise will be considered unused if it has not been used or altered in any way after being imported into the United States. This includes goods that have not been processed, assembled, or incorporated into other products. By treating these goods as unused, importers will be eligible to receive drawback refunds on the duties paid when the merchandise was brought into the country.
The goal of this legislation is to provide importers with a financial incentive to export unused merchandise, thereby promoting international trade and economic growth. By allowing for drawback refunds on these goods, the bill aims to reduce the financial burden on importers and encourage them to participate in global commerce. Overall, the Unused Merchandise Drawback Act seeks to streamline the drawback process and make it easier for importers to receive refunds on duties paid for unused merchandise. This could potentially lead to increased exports and a boost to the US economy.
Read the Full Bill
Current Status of Bill HR 7864
Bill HR 7864 is currently in the status of Bill Introduced since April 2, 2024. Bill HR 7864 was introduced during Congress 118 and was introduced to the House on April 2, 2024. Bill HR 7864's most recent activity was Referred to the Subcommittee on Trade. as of December 17, 2024
Bipartisan Support of Bill HR 7864
Total Number of Sponsors
2Democrat Sponsors
0Republican Sponsors
2Unaffiliated Sponsors
0Total Number of Cosponsors
1Democrat Cosponsors
1Republican Cosponsors
0Unaffiliated Cosponsors
0Policy Area and Potential Impact of Bill HR 7864
Primary Policy Focus
Foreign Trade and International FinanceAlternate Title(s) of Bill HR 7864
To amend the Tariff Act of 1930 to treat certain merchandise as unused merchandise for drawback purposes.
To amend the Tariff Act of 1930 to treat certain merchandise as unused merchandise for drawback purposes.
Comments
Sponsors and Cosponsors of HR 7864
Latest Bills
Celebrating the 175th anniversary of the Young Men's Christian Association (YMCA).
Bill HRES 1074March 16, 2026
A resolution celebrating the 175th anniversary of the Young Men's Christian Association (YMCA).
Bill SRES 642March 16, 2026
Providing for consideration of the bill (H.R. 7744) making appropriations for the Department of Homeland Security for the fiscal year ending September 30, 2026, and for other purposes.
Bill HRES 1095March 16, 2026
Providing for consideration of the bill (H.R. 4626) to amend the Energy Policy and Conservation Act to prohibit the Secretary of Energy from prescribing any new or amended energy conservation standard for a product that is not technologically feasible and economically justified, and for other purposes, and providing for consideration of the bill (H.R. 4758) to repeal provisions of Public Law 117-169 relating to taxpayer subsidies for home electrification, and for other purposes.
Bill HRES 1075March 16, 2026
Albuquerque Indian School Act of 2025
Bill HR 6162March 16, 2026
Digital Commodity Intermediaries Act
Bill S 4064March 16, 2026
ICE Funding Accountability Act
Bill S 3933March 16, 2026
Medical Nutrition Therapy Act of 2026
Bill S 3934March 16, 2026
Traditional Cigar Manufacturing and Small Business Jobs Preservation Act of 2026
Bill S 3922March 16, 2026
Hurricane Forecast Improvement Program Enhancement Act
Bill S 3919March 16, 2026

