Representatives Adrian Smith (R-NE) and Don Beyer (D-VA) – along with Senators Mike Lee (R-UT) and Bob Menendez (D-N.J.) – introduced the Formula 3.0 Act, legislation to permanently waive tariffs and ease trade barriers on infant formula. The members released the following statements:
“The baby formula crisis put an additional spotlight on the serious supply chain challenges we face,” said Rep. Smith, Chairman of the Ways and Means Trade Subcommittee. “Congress immediately came together in a bipartisan way to waive tariffs on safe, FDA-approved formula, and it alleviated some of the pressures families faced when searching for formula. Now that those tariffs have returned, the availability of formula has become strained once again. That’s why we are working in a bipartisan, bicameral way to permanently lift barriers to safely import formula and give families more options and access to the formula they need.”
“The fragility of the domestic infant formula market was put into stark relief last year when a problem at just one company’s facility led to a drastic supply shortage and massive price increases for parents nationwide,” said Rep. Beyer. “Due to high tariffs and other protectionist obstacles preventing high-quality infant formula imports from the global market, parents with small children were left scrambling to find affordable alternatives. With the expiration of temporary emergency measures designed to ease the shortage, the market remains extremely vulnerable to another supply shock. This bill would permanently eliminate trade barriers to encourage the import of FDA-compliant infant formula, bringing prices down for parents in the near term and staving off a potential future crisis.”
“The welfare of our families, especially our infants, is of utmost importance,” said Sen. Lee. “The formula shortage has highlighted the need for long-term solutions that promote accessibility and affordability. With the FORMULA 3.0 Act, we take a significant step towards permanently eliminating trade barriers and ensuring a stable supply of infant formula for families across the nation.”
“I’m proud to be co-leading this bipartisan effort to permanently waive tariffs on infant formula, which will lower prices and ensure we can protect infants from risks associated with current or future supply shortages. We have a responsibility to care for our families and children, and this common-sense solution will do just that,” said Sen. Menendez.
The House and Senate versions of the Formula 3.0 Act are identical. Read the House bill here.
Original source can be found here.
