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HR 2459
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Reclaim Trade Powers Act

To amend the Trade Act of 1974 to eliminate the authority to impose certain import surcharges to address balance of payments deficits, and for other purposes.

Introduced Mar 27, 2025

Latest action (Mar 27, 2025) Referred to the House Committee on Ways and Means.

Referred to
Ways and Means Committee
Policy area
Foreign Trade and International Finance

Summary

This bill repeals Section 122 of the Trade Act of 1974, which currently authorizes the President to impose import surcharges to address balance of payments deficits. By eliminating this authority, the bill removes a mechanism the executive branch could use to unilaterally impose tariffs for balance of payments reasons.

AI-generated plain-language summary of the bill text — neutral, and may be imperfect. See the full text below for the exact wording.

Sponsor (1)
21 cosponsors

Money behind the sponsor

Top reported contributors to Jimmy Panetta’s campaign committee (2024 cycle) — who funds the bill’s sponsor, not a claim about this bill. Data from FEC.

  • NULL $19,200
  • NFP $15,500
  • APOLLO GLOBAL MANAGEMENT $13,500
  • ROCKET CENTRAL $12,000
  • FOLKTALE WINERY $7,760

Organizations whose employees gave the most — itemized individual contributions grouped by the donor’s reported employer (FEC Schedule A). Full finance for Jimmy Panetta → · Outside spending →

Actions (2)
  1. Mar 27, 2025 Referred to the House Committee on Ways and Means. · house
  2. Mar 27, 2025 Introduced in House

Similar bills (6)

Bills with similar text or summary — includes reintroductions across Congresses. Ranked by semantic similarity of the bill text (computed locally); a neutral discovery aid, not a claim the bills are duplicates.

  • S 4049 — Reclaim Trade Powers Act · Introduced Mar 11, 2026 · Cong. 119 82%
  • HR 1284 — Fighting Trade Cheats Act of 2025 · Introduced Feb 13, 2025 · Cong. 119 73%
  • HR 2464 — Repealing Outdated and Unilateral Tariff Authorities Act · Introduced Mar 27, 2025 · Cong. 119 71%
  • HR 2712 — Reclaiming Congressional Trade Authority Act of 2025 · Introduced Apr 8, 2025 · Cong. 119 71%
  • HR 1903 — Congressional Trade Authority Act of 2025 · Introduced Mar 6, 2025 · Cong. 119 70%
  • HR 7615 — RELIEF Act · Introduced Feb 20, 2026 · Cong. 119 69%

Text versions (1)
  • Introduced in House · Mar 27, 2025

Only one text version is on file, so there’s no earlier version to compare against yet.

Full text

IN THE HOUSE OF REPRESENTATIVES

March 27, 2025

Mr. Panetta (for himself, Mr. Beyer, Ms. DelBene, Ms. Sewell, and Mr. Schneider) introduced the following bill; which was referred to the Committee on Ways and Means

A BILL

To amend the Trade Act of 1974 to eliminate the authority to impose certain import surcharges to address balance of payments deficits, and for other purposes.

Be it enacted by the Senate and House of Representatives of the United States of America in Congress assembled,

SECTION 1. SHORT TITLE.

This Act may be cited as the “Reclaim Trade Powers Act”.

SEC. 2. ELIMINATION OF BALANCE OF PAYMENTS AUTHORITY.

Section 122 of the Trade Act of 1974 (19 U.S.C. 2132) is repealed. <all>

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