WASHINGTON — Senate Democrats on Monday introduced legislation to exempt mom-and-pop companies from tariffs that have roiled global trade and jeopardized some companies’ ability to operate.

Co-sponsored by Sen. Chuck Schumer, D-N.Y., and Sen. Ed Markey, D-Mass., the Small Business Liberation Act would prevent small business owners from having to pay import taxes on the goods they receive from other countries.

What You Need To Know

  • Senate Democrats introduced the Small Business Liberation Act on Monday
  • The legislation would exempt small businesses from President Donald Trump's tariffs 
  • On Sunday, President Trump said he isn't considering tariff relief for small businesses because "they're not going to need it"
  • There are about 33 million small businesses in the United States 

“Small businesses aren’t like Fortune 500 companies,” Markey said Monday during a press conference at the U.S. Capitol, where he was flanked by half a dozen small business owners from across the country. “They can’t just ride it out. They live day to day, week to week, month to month. They can’t wait for something to get figured out in the White House.”

Last month, President Donald Trump announced a sweeping set of reciprocal tariffs on most U.S. trading partners only to pause them for 90 days. Still, most U.S. trading partners are now subject to a 10% minimum tariff, while Chinese goods are subject to a 145% tax.

Markey said he wrote the legislation because “Trump’s 'Liberation Day' is obliteration day for small businesses. It will be a massive economic liquidation day for small businesses.” 

There are about 33 million small businesses that employ almost 62 million people in the United Sates, according to the U.S. Office of Advocacy within the Small Business Administration. While all types of businesses are affected by Trump’s tariffs, small businesses are more vulnerable because they’re less able to absorb increased costs. 

“I currently have three months of inventory sitting at my factory that I cannot bring to the United States,” Busy Baby founder Beth Benike said Monday, referring to a Chinese factory she has worked with for eight years since launching her baby products business. “I have maybe two months’ worth left in my warehouse in Minnesota, and when that’s gone, I have no more revenue. I cannot pay my employees. I cannot pay my bills. I cannot pay the loans, which I have leveraged my house against, so we could lose our house.”

A former military veteran, Benike was named Minnesota’s small business person of the year by the Small Business Administration on Monday. Initially started as a home-based business, Busy Baby now operates in a 7,000-square-foot facility that employs five people and sells its products to retailers including Wal-Mart and Target.

To get her recently manufactured items to the United States from China would cost her $230,000 in new taxes, which she said she does not have.

“I am begging for support from both sides of our parties to support our small businesses and get rid of these tariffs on U.S.-owned small businesses,” she said.

In a Sunday interview with NBC News’ Kristen Welker, Trump said he is not considering tariff relief for small businesses because "they're not going to need it."

According to Markey, Trump’s tariffs have already cost small businesses $26 million since Trump’s tariff announcement on April 2.