S. 4049 — Introduced in Senate

II 119th CONGRESS 2d Session S. 4049 IN THE SENATE OF THE UNITED STATES March 11, 2026Mr. Kaine (for himself, Mr. Warnock, Mr. Wyden, Mr. King, Mr. Coons, Mr. Welch, Mr. Warner, Mr. Van Hollen, Ms. Klobuchar, Ms. Rosen, Ms. Alsobrooks, Mr. Heinrich, and Mrs. Murray) introduced the following bill; which was read twice and referred to the Committee on Finance A BILL To repeal section 122 of the Trade Act of 1974 relating to balance-of-payments authority. 1. Short title This Act may be cited as the Reclaim Trade Powers Act. 2. Repeal of balance-of-payments authority (a) In general Section 122 of the Trade Act of 1974 (19 U.S.C. 2132) is repealed. (b) Clerical amendment The table of contents for the Trade Act of 1974 is amended by striking the item relating to section 122. (c) Conforming amendment Section 127(b) of the Trade Act of 1974 (19 U.S.C. 2137(b)) is amended, in the matter preceding subparagraph (A), by striking (and from any action under section 122(c)).