(The Center Square) – Legislation has been introduced in the U.S. Senate aimed at protecting American families and businesses from potential price “hikes” caused by proposed tariffs from President Donald Trump.
The legislation was introduced by Sens. Tim Kaine, D-Va., Jeanne Shaheen, D-N.H., and Ron Wyden, D-Ore., titled the Protecting Americans from Tax Hikes on Imported Goods Act. Lawmakers say it is meant to “shield” American businesses and families from “soaring prices cause by broad-based tariffs” imported goods.
The group of senators say the legislation would ensure the costs are kept down for imported products by “limiting the president’s authority to impose unlimited tariffs” as part of the International Economic Powers Act. They contend that the law wasn’t designed or intended for such tariffs.
“The Protecting Americans from Tax Hikes on Imported Goods Act clarifies that the IEEPA may not be used to increase costs on American families by placing tariffs or tariff-rate quotas on imported goods, while preserving the IEEPA’s existing, targeted provisions that allow the president to address unfair trade practices or impose sanctions in the interest of national security,” according to a release from Kaine’s office.
Kaine says the president’s proposed tariffs would not help lower costs but raise them.
“Virginians want lower – not higher – costs, but President Trump plans to impose broad-based tariffs, which would raise the price of everyday goods and hurt every American,” said the senator. “That’s why I’m joining my colleagues in introducing this legislation to make it a lot harder for the President to impose sweeping tariffs, by prohibiting the use of the International Emergency Economic Powers Act for that kind of action.”
The senators say multiple U.S. corporations claim broad tariffs ranging between 10% and 20% on all goods imported into the country would result in rising costs for families. They added that “sweeping tariffs could severely harm” American manufacturers, which could lead to the average American family’s annual costs to rise by $3,900, which includes an increase of nearly $200 for groceries.
Days into Trump’s presidency, he has yet to impose new tariffs he threatened on the campaign trail. As previously reported by The Center Square, the president has suggested introducing new import taxes.
“Tariffs are going to make us rich as hell, it’s going to bring our country’s businesses back that left us,” he said Monday evening at the Capital One Arena during the inaugural parade.
During his inaugural address, Trump said he plans to shift away from taxing the American people and favor placing tariffs on imports from other countries.
“I will immediately begin the overhaul of our trade system to protect American workers and families,” Trump said during his address. “Instead of taxing our citizens to enrich other countries, we will tariff and tax foreign countries to enrich our citizens.”
This article was originally published at www.thecentersquare.com
