COBRA Fees to be Adjusted for Inflation in Fiscal Year 2024

U.S. Customs and Border Protection (CBP) is adjusting certain customs user fees and corresponding limitations for Fiscal Year 2024 in accordance with the Fixing America's Surface Transportation Act (FAST Act). The adjustments are required to reflect certain increases in inflation. CBP determined that the increase in the Consumer Price Index (CPI) between the most recent June to May twelve-month period and the comparison year is 6.79 percent, which exceeds the threshold for adjustment. As a result, the customs Consolidated Omnibus Budget Reconciliation Act (COBRA) user fees and corresponding limitations will be adjusted by 26.670 percent for Fiscal Year 2024. The adjusted fees and limitations will be effective from October 1, 2023. To view the full CBP Notice with the New Fees and Limitations, visit Federal Register.