| Quijano, Bagolie bill would give consumers clear insight into how tariffs contribute to rising costs at the register (TRENTON) — Assemblywoman Annette Quijano’s legislation addressing a lack of clarity surrounding the drivers of inflation and rising consumer costs cleared the Assembly Consumer Affairs Committee today. Bill A5922, also known as the Tariff Transparency Act, would require retail establishments in New Jersey to disclose the portion of a product’s final price that is attributable to tariffs and other import taxes. Assemblywoman Rosy Bagolie also sponsored the bill. “As families across New Jersey struggle with skyrocketing prices on everyday goods, they deserve to know exactly why their grocery bill, clothing budget, or holiday shopping has become more expensive,” said Assemblywoman Quijano (D-Union). “This bill would ensure transparency and accountability, especially when the policies of the current federal administration are contributing to a cost-of-living crisis.” Under the proposed legislation, consumers would be clearly informed—at the point of sale display tag, on the online product page, on a printed receipt, or in a manner deemed appropriate by the Director of the Division of Consumer Affairs (DCA)—how much of the retail price stems from tariffs imposed at the federal level. The measure also calls for retailers and wholesalers to maintain documentation supporting these calculations and subjects all establishments to periodic compliance audits by the DCA. “When decisions are made at the federal level that cause prices to increase, working families feel it first, and they deserve to understand why,” said Assemblywoman Bagolie (D-Essex, Passaic). “New Jersey residents deserve clarity at the checkout counter, especially when tariff-driven costs are being passed along to them. This bill is about transparency and accountability to consumers, neither of which should ever be seen as a burden.” The bill would include exemptions for small businesses with under $500,000 in annual revenue and for products where the tariff impact is under 2% of the retail price. Full compliance would be phased in over a year, starting with voluntary participation before becoming mandatory for larger retailers. |