Congressional Trade Powers Reform Act of 2026
The source supplies the latest action, but no lifecycle stage.
Latest action (22 Jul 2026): Read twice and referred to the Committee on Finance.
What this bill does
S. 5081, the Congressional Trade Powers Reform Act of 2026, would shift authority over tariffs and other trade actions from the President back to Congress. It would create a new Joint Committee on Tariffs and Trade, composed of members of the Senate Finance and House Ways and Means Committees, to review presidential proposals for actions under national security tariff law (Section 232), safeguard actions (Section 201), and unfair-trade-practice actions (Section 301). Such actions could take effect only after the Joint Committee recommends them and Congress passes a joint resolution of approval, generally lasting 180 days unless renewed. The bill also repeals the President's standalone balance-of-payments tariff authority and the authority to impose duties in response to foreign discrimination, and requires that any binding trade agreement be approved by law before taking effect.
The bill would affect the President and executive branch trade officials, whose unilateral tariff and negotiating powers would be constrained; Congress, which would gain a formal review and approval role through the new Joint Committee and dedicated congressional trade staff; and the Office of the U.S. Trade Representative, which would be relocated outside the Executive Office of the President and would gain an Inspector General. Businesses and industries affected by tariffs or trade negotiations would see decisions made through a more formal, congressionally supervised process.
The bill was introduced in the Senate on July 22, 2026, by Senator Ron Wyden and referred to the Committee on Finance. It has not yet received committee action, and would need to pass the Senate and House and be signed into law to take effect.
Plain-English summary generated by Bill100 AI from the official record. Always verify against the source below.
Timeline
22 Jul 2026
Read twice and referred to the Committee on Finance.
Common questions
- What does S. 5081 do?
- S. 5081, the Congressional Trade Powers Reform Act of 2026, would shift authority over tariffs and other trade actions from the President back to Congress. It would create a new Joint Committee on Tariffs and Trade, composed of members of the Senate Finance and House Ways and Means Committees, to review presidential proposals for actions under national security tariff law (Section 232), safeguard actions (Section 201), and unfair-trade-practice actions (Section 301). Such actions could take effect only after the Joint Committee recommends them and Congress passes a joint resolution of approval, generally lasting 180 days unless renewed. The bill also repeals the President's standalone balance-of-payments tariff authority and the authority to impose duties in response to foreign discrimination, and requires that any binding trade agreement be approved by law before taking effect. The bill would affect the President and executive branch trade officials, whose unilateral tariff and negotiating powers would be constrained; Congress, which would gain a formal review and approval role through the new Joint Committee and dedicated congressional trade staff; and the Office of the U.S. Trade Representative, which would be relocated outside the Executive Office of the President and would gain an Inspector General. Businesses and industries affected by tariffs or trade negotiations would see decisions made through a more formal, congressionally supervised process. The bill was introduced in the Senate on July 22, 2026, by Senator Ron Wyden and referred to the Committee on Finance. It has not yet received committee action, and would need to pass the Senate and House and be signed into law to take effect.
- Has S. 5081 become law?
- The source does not supply a confirmed lifecycle stage for S. 5081. Check the latest action and official source below.
- Who sponsored S. 5081?
- S. 5081 was sponsored by Sen. Wyden, Ron [D-OR] (D-OR), with 0 cosponsors.
- What's the latest action on S. 5081?
- Read twice and referred to the Committee on Finance. (22 Jul 2026).
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