Ways and Means Chair Hopes de Minimis Gets Back Into Tax Bill
House Ways and Means Committee Chairman Jason Smith, R-Mo., said he would "love" if a provision his committee authored, to end de minimis for all commercial purposes in 2027, would make it into the Senate version of what Republicans call "One Big Beautiful Bill."
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The de minimis provision and a restriction on substitution drawback for tobacco exporters were both omitted from the Senate version of the bill.
Smith also told International Trade Today in a hallway interview June 24 that restoring the de minimis restriction puts U.S. retailers on an equal footing, and is "a $40 billion pay-for."