WASHINGTON, Feb. 11 -- Sen. Sheldon Whitehouse issued the following press release:
U.S. Senators Sheldon Whitehouse (D-RI) and Bill Cassidy (R-LA) today introduced the Last Sale Valuation Act, bipartisan legislation to close a customs loophole allowing importers to avoid duties by declaring an artificially low value for their goods. This fix will level the playing field for small and domestic businesses and combat trade-based money laundering.
"Multinational corporations and bad actors shouldn't be able to fill their coffers by exploiting loopholes that give them an unfair advantage over small businesses," said Whitehouse. "Closing the 'first sale' loophole will boost businesses that play by the rules, while helping law enforcement crack ...