Summary of SRES 281: Commemorating the 95th Anniversary of the Tariff Act of 1930

Bill Overview

• Bill Number: SRES 281
• Title: A resolution commemorating the 95th anniversary of the enactment of the Tariff Act of 1930.
• Status: Introduced in Senate
• Introduced: June 17, 2025
• Classification: Resolution

Purpose and Intent

The primary purpose of SRES 281 is to commemorate the 95th anniversary of the Tariff Act of 1930, commonly known as the Smoot-Hawley Tariff Act. This resolution serves as a moment for historical reflection on the implications of protectionist economic policies, particularly in the context of their role in contributing to the Great Depression.

Key Provisions

The resolution includes several key statements and affirmations:

1. Historical Reflection: It observes the anniversary as a significant moment to reflect on the consequences of protectionist policies.

2. Economic Impact: It identifies the Tariff Act of 1930 as a major factor that exacerbated the Great Depression, highlighting the adverse effects of high tariffs on the economy.

3. Support for Trade Policies: The resolution affirms the importance of rules-based trade policies that:

   • Reduce production costs for U.S. farmers, manufacturers, and construction firms.
   • Strengthen international economic cooperation.
   • Provide consumers with a wider variety of affordable goods.
   • Open foreign markets for U.S. exports.

4. Commitment to Economic Growth: It commits to promoting trade and economic policies that foster growth and prevent the recurrence of past policy mistakes.

Affected Parties

The resolution primarily addresses the following groups:
- U.S. Farmers and Manufacturers: By advocating for reduced production costs and improved trade policies.
- Consumers: By emphasizing the importance of access to a variety of affordable goods.
- International Trade Partners: By promoting cooperation and open markets.

Legislative Actions

• June 17, 2025: The resolution was introduced in the Senate and referred to the Committee on Finance.

Sponsors

• Primary Sponsor: Maria Cantwell
• Cosponsors: Amy Klobuchar, Jeanne Shaheen, Peter Welch

Conclusion

SRES 281 serves as a reflective resolution that not only commemorates a significant historical event but also advocates for lessons learned regarding trade policies. By emphasizing the importance of open markets and economic cooperation, the resolution aims to guide future trade practices to avoid the pitfalls of protectionism that contributed to past economic downturns.