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Senate Democrats Propose $175B Tariff Refund for Small Businesses

2/25/2026

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Senators Propose Refunds

Three U.S. Senate Democrats introduced the Tariff Refund Act of 2026 to refund about $175 billion in tariffs deemed illegal by the Supreme Court.
Senators Ron Wyden (D), Ed Markey (D), and Jeanne Shaheen (D) aim to prioritize refunds for small businesses within 180 days.
The bill requires U.S. Customs and Border Protection to issue status reports every 30 days until refunds are completed.
The Trump administration argues refunds depend on ongoing litigation.

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Bessent Warns Tariff Impact

Treasury Secretary Scott Bessent says refunds are unlikely for tariffs the Supreme Court deemed unconstitutional.
U.S. President Donald Trump could reimpose tariffs under different laws, creating further uncertainty.
The Supreme Court decision did not clarify the refund process, risking litigation delays.
Bessent says households could face a $300 to $700 tax increase due to new tariffs.

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Senators Propose Refunds

Three U.S. Senate Democrats introduced the Tariff Refund Act of 2026 to refund about $175 billion in tariffs deemed illegal by the Supreme Court.
Senators Ron Wyden (D), Ed Markey (D), and Jeanne Shaheen (D) aim to prioritize refunds for small businesses within 180 days.
The bill requires U.S. Customs and Border Protection to issue status reports every 30 days until refunds are completed.
The Trump administration argues refunds depend on ongoing litigation.

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