Sponsors (4)
The bill increases transparency and congressional oversight of tariff changes by requiring CBO economic analyses, at the cost of slower implementation, potential national-security response delays, and added administrative burden and uncertainty for businesses and consumers.
Importers, small businesses, and consumers receive a CBO economic analysis before new tariffs take effect, providing clearer pricing forecasts and planning information.
Congress and the public gain standardized, accessible estimates of projected economic impacts to inform debate, oversight, and policymaking.
Taxpayers and national-security officials could see tariff changes implemented more slowly, reducing the government's agility to respond to urgent trade or security threats.
Small businesses and consumers may face higher costs if agencies and companies incur extra administrative and compliance expenses from conducting or responding to CBO reviews.
Taxpayers, businesses, and markets may face uncertainty or delayed benefits if the CBO lacks sufficient data or capacity, making analyses late or less useful.
Based on analysis of 2 sections of legislative text.
Requires that no tariff or import-duty change may take effect until CBO posts a public economic review of the expected economic impact.
Official title: To require the Congressional Budget Office to conduct an economic review of the economic impact of tariff modifications before implementation.
Introduced July 10, 2025 by Josh S. Gottheimer · Last progress July 10, 2025
Stops any change to tariffs or other import duties from taking effect until the Congressional Budget Office (CBO) posts a public economic review of the expected economic impact of that specific change. The requirement applies to any tariff or import-duty modification on or after the date the law takes effect, and conditions the effective date of the change on CBO publication on its website.