H.R. 7864 proposes changes to the Tariff Act of 1930 to allow certain items to be classified as unused merchandise for the purpose of obtaining duty refunds, known as drawbacks. According to the bill, merchandise would be considered unused if it is returned to inventory,...
Simple Explanation
H.R. 7864 is like a rule change that tells how certain things can be called "unused" so companies can get some money back when they decide not to use them. But, some of these things won't get all the money-back options, which might make it tricky for some businesses to understand.