The legislation introduced by a group of 22 US Senate Democrats would require the Customs and Border Protection agency, which collects tariffs at US ports of entry, to prioritise small businesses.
A group of 22 US Senate Democrats on Monday introduced legislation that would require President Donald Trump’s administration to fully refund within 180 days all of the revenue, with interest, collected from tariffs struck down by the US Supreme Court.
The legislation would require the Customs and Border Protection agency, which collects tariffs at US ports of entry, to prioritise small businesses.
The Supreme Court did not give instructions regarding any refunds on Friday when it struck down Trump’s broad tariffs imposed under the International Emergency Economic Powers Act (IEEPA), instead remanding the case to a lower trade court to determine next steps.
What does the new Bill seek?
The Democrats’ legislation would require CBP to refund all IEEPA-based tariffs unlawfully imposed by Trump, plus interest, even if the import duties were finalised, or “liquidated” by CBP.
The 22 Democrats who co-sponsored the bill included Senate Minority Leader Chuck Schumer and Senators Ron Wyden of Oregon, Edward Markey of Massachusetts and Jeanne Shaheen of New Hampshire, the top Democrats on the Senate’s Finance, Small Business and Foreign Relations committees, respective