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Last Sale Valuation Act of 2026
To amend the Tariff Act of 1930 to modify the determination of transaction value for customs valuation.
Summary
This bill amends the Tariff Act of 1930 to modify how customs officials determine the value of imported merchandise for tariff calculation purposes. For transactions involving a series of sales, the bill specifies that the relevant transaction value is the price paid by the buyer in the United States in the last sale that introduces the merchandise into the United States, rather than potentially using an earlier sale price. The bill also clarifies that U.S. Customs and Border Protection has access to books and records when making valuation adjustments. These changes affect how tariffs and duties are calculated on imported goods.
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)
- Sen. Cassidy, Bill [R-LA] (R-LA)
1 cosponsor
Money behind the sponsor
Top reported contributors to Bill Cassidy’s campaign committee (2024 cycle) — who funds the bill’s sponsor, not a claim about this bill. Data from FEC.
- ANDREESSEN HOROWITZ $59,100
- GENERAL ATLANTIC $37,700
- WELSH CARSON ANDERSON & STOWE $33,870
- OCHSNER HEALTH SYSTEM $33,250
- RA CAPITAL MANAGEMENT $30,200
Organizations whose employees gave the most — itemized individual contributions grouped by the donor’s reported employer (FEC Schedule A). Full finance for Bill Cassidy → · Outside spending →
Actions (2)
- Feb 11, 2026 Read twice and referred to the Committee on Finance. · senate
- Feb 11, 2026 Introduced in Senate
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.
Full text
IN THE SENATE OF THE UNITED STATES
February 11, 2026
Mr. Cassidy (for himself and Mr. Whitehouse) introduced the following bill; which was read twice and referred to the Committee on Finance
A BILL
To amend the Tariff Act of 1930 to modify the determination of transaction value for customs valuation.
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 “Last Sale Valuation Act of 2026”.
SEC. 2. MODIFICATION TO DETERMINATION OF TRANSACTION VALUE FOR CUSTOMS VALUATION.
Section 402 of the Tariff Act of 1930 (19 U.S.C. 1401a) is amended—
(1) in subsection (b)(4), by adding at the end the following:
“(C) The term ‘sold for exportation to the United States’, with respect to imported merchandise, means—
“(i) in the case of a transaction involving one sale, the price actually paid or payable by the buyer in the United States to the seller located in another country for the merchandise; and
“(ii) in the case of a transaction involving a series of sales, the price actually paid or payable by the buyer in the United States for the merchandise in the last sale that introduces the merchandise into the United States.”; and
(2) in subsection (h)(5), in the flush text following subparagraph (C), by inserting “, including access to books and records by U.S. Customs and Border Protection” after “adjustment”. <all>
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