Summary
A new bill in Congress, known as the Tariff Refund Act of 2026, proposes that the U.S. Customs and Border Protection issue $175 billion in tariff refunds to American families and businesses. This follows a Supreme Court ruling that President Trump unlawfully imposed these tariffs. The bill aims to ensure refunds are given within 180 days, with a focus on helping small businesses.
Key Facts
- The Tariff Refund Act of 2026 proposes refunds for unlawful tariffs amounting to $175 billion.
- The U.S. Customs and Border Protection would handle issuing these refunds with interest.
- The Supreme Court ruled that President Trump's tariffs exceeded his authority under emergency powers.
- The bill sets a 180-day deadline for refunds, prioritizing small businesses.
- It requires 30-day status reports to Congress on refund progress.
- Nineteen Democratic senators co-sponsored the bill.
- The White House described the plan critically, noting Trump's past tariff policies.
- The Treasury Department is awaiting further court guidance on the refunds.
