The Tariff Refund Act of 2026 requires the U.S. Customs and Border Protection Commissioner to refund all duties that were unlawfully collected under the International Emergency Economic Powers Act, following a Supreme Court ruling that such duties were illegal. The bill mandates that refunds be processed within 180 days of enactment and include interest payments to importers. The legislation prioritizes small businesses for refund payment and requires the Small Business Administration to help inform small business owners about the refund process and documentation needed. Additionally, the bill directs the Commissioner to submit progress reports every 30 days to Congress detailing the number and amount of refunds issued, with a breakdown between small and larger businesses, until all refunds are completed. The bill includes a provision asking larger importers and businesses to pass refunds along to their customers, particularly small businesses and families who paid higher prices due to the tariffs.
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