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A bill to prohibit certain entities from entering articles under the administrative exemption from duties for de minimis entries of articles.
12/6/2024, 11:56 AM
Summary of Bill S 5435
Bill 118 s 5435, also known as the "Prohibition of De Minimis Entries Act," aims to prevent certain entities from taking advantage of the administrative exemption from duties for de minimis entries of articles.
The bill specifically targets entities that have been exploiting this exemption to avoid paying duties on imported goods by splitting up shipments into smaller, de minimis entries. These entities have been able to avoid paying duties on these smaller entries, resulting in lost revenue for the government.
If passed, this bill would prohibit these entities from continuing to use this loophole and would require them to pay duties on all imported goods, regardless of the size of the entry. This would help ensure that all entities are paying their fair share of duties and prevent abuse of the de minimis entry system. Overall, the Prohibition of De Minimis Entries Act aims to promote fairness and accountability in the payment of duties on imported goods and prevent entities from exploiting loopholes in the system.
The bill specifically targets entities that have been exploiting this exemption to avoid paying duties on imported goods by splitting up shipments into smaller, de minimis entries. These entities have been able to avoid paying duties on these smaller entries, resulting in lost revenue for the government.
If passed, this bill would prohibit these entities from continuing to use this loophole and would require them to pay duties on all imported goods, regardless of the size of the entry. This would help ensure that all entities are paying their fair share of duties and prevent abuse of the de minimis entry system. Overall, the Prohibition of De Minimis Entries Act aims to promote fairness and accountability in the payment of duties on imported goods and prevent entities from exploiting loopholes in the system.
Current Status of Bill S 5435
Bill S 5435 is currently in the status of Bill Introduced since December 5, 2024. Bill S 5435 was introduced during Congress 118 and was introduced to the Senate on December 5, 2024. Bill S 5435's most recent activity was Read twice and referred to the Committee on Finance. as of December 5, 2024
Bipartisan Support of Bill S 5435
Total Number of Sponsors
1Democrat Sponsors
0Republican Sponsors
1Unaffiliated Sponsors
0Total Number of Cosponsors
1Democrat Cosponsors
1Republican Cosponsors
0Unaffiliated Cosponsors
0Policy Area and Potential Impact of Bill S 5435
Primary Policy Focus
Alternate Title(s) of Bill S 5435
A bill to prohibit certain entities from entering articles under the administrative exemption from duties for de minimis entries of articles.
A bill to prohibit certain entities from entering articles under the administrative exemption from duties for de minimis entries of articles.
Comments
Sponsors and Cosponsors of S 5435
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