NextFin news, WASHINGTON, D.C. — On Thursday, a group of Democratic senators led by Senator Ed Markey (D-MA) introduced the Small Business RELIEF Act aimed at exempting small businesses from the tariffs imposed by the Trump administration this summer. The bill also proposes refunding tariffs paid by small businesses within 90 days of the bill’s enactment, if it becomes law.
The legislation targets small businesses defined as those with 500 or fewer employees, which constitute 99.9 percent of U.S. companies. Senator Markey, ranking member of the Senate Committee on Small Business and Entrepreneurship, stated, “While the courts continue to battle over the legality of Trump’s ‘liberation day’ tariffs, small businesses cannot wait and never should have been part of this terrible policy. We must continue to show up for small businesses and ensure they are not left to bear the burden of these harmful tariffs. They need relief now.”
Other senators co-sponsoring the bill include Chuck Schumer (D-NY), Richard Blumenthal (D-CT), Mazie Hirono (D-HI), Angela Alsobrooks (D-MD), Mark Warner (D-VA), John Hickenlooper (D-CO), Mark Kelly (D-AZ), Kirsten Gillibrand (D-NY), and Martin Heinrich (D-NM).
This bill follows a similar measure introduced by Markey in May, which also sought tariff exemptions for small businesses. At that time, the U.S. Chamber of Commerce lobbied the White House for such relief, but the administration responded that small businesses would receive relief through tax cuts instead.
Two federal courts have ruled that most of the Trump administration’s reciprocal tariffs are illegal, and the issue is now before the Supreme Court, which is scheduled to hear oral arguments in early November. Treasury Secretary Scott Bessent has acknowledged that if the Supreme Court rules the tariffs illegal, the administration may be required to refund up to $1 trillion to all U.S. companies that paid the tariffs.
The bill’s passage is uncertain, as similar legislation introduced earlier this year stalled in Congress. However, the introduction of this bill highlights ongoing efforts by Democratic lawmakers to provide relief to small businesses affected by the tariffs.
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