The Senate Committee on Finance could soon consider legislation to weaken the de minimis law, a customs process that expedites and cuts cost on the importation of shipments valued at less than $800. Countless small businesses and consumers in the United States benefit from this law, whether they know it or not, and weakening de minimis, as proposed by the Chairman Ron Wyden (D-OR) and the Biden administration, would be devastating to not only our small businesses, but also our supply chains and our economy as a whole. Ranking Member Mike Crapo (R-ID) and other members of the Committee must be the voice of reason and vote no on this legislation.
Weakening de minimis would increase taxes and customs costs on importers and require small businesses to raise their prices, something neither businesses nor their customers can afford. Economists at the Mercatus Center estimate that restricting de minimis could add an extra $50 billion in costs to American consumers and businesses each year, further straining the economy.
The inflation problem in the United States is real and significant. Prices have surged in nearly every sector, from........