Reclaim Trade Powers Act

Hozzl · 2026-03-24T15:14:08Z

Explore the details of Senate Bill 4049 Reclaim Trade Powers Act currently in Congress. Get insights into its purpose, current status, sponsors, and potential impact on Foreign Trade and International Finance. Stay informed on legislative developments.

3/24/2026, 3:14 PM

Summary of Bill S 4049

This bill, designated as S. 4049 in the 119th Congress and introduced on March 11, 2026, aims to repeal section 122 of the Trade Act of 1974 concerning balance-of-payments authority.

Congressional Summary of S 4049

Reclaim Trade Powers Act

This bill repeals the statute that directs the President to take certain actions, such as imposing a tariff of up to 15% for up to 150 days on articles imported into the United States, when necessary to address large and serious U.S. balance-of-payments deficits or certain other situations that present fundamental international payments problems.

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Current Status of Bill S 4049

Bill S 4049 is currently in the status of Bill Introduced since March 11, 2026. Bill S 4049 was introduced during Congress 119 and was introduced to the Senate on March 11, 2026. Bill S 4049's most recent activity was Read twice and referred to the Committee on Finance. as of March 11, 2026

Bipartisan Support of Bill S 4049

Total Number of Sponsors

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Republican Sponsors

Unaffiliated Sponsors

Total Number of Cosponsors

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Republican Cosponsors

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Policy Area and Potential Impact of Bill S 4049

Primary Policy Focus

Foreign Trade and International Finance

Alternate Title(s) of Bill S 4049

A bill to repeal section 122 of the Trade Act of 1974 relating to balance-of-payments authority.

Comments

Tanner Zhu

720

18 days ago

Yo, this bill is gonna be a game changer, ya know? Getting rid of that section 122 is gonna open up so many opportunities for us. But like, what does this mean for the future of our economy? #curious