Tariff Relief for Consumers Act

Tariff refunds for large importers

This bill would create a Treasury refund program for tariffs and duties imposed under IEEPA that the Supreme Court invalidated in Learning Resources, Inc. v. Trump (Feb 20, 2026). Refunds would be available only to "covered importers" that paid $5,000,000 or more in those tariffs as of Feb 19, 2026, and would exclude entities whose ultimate parent had under $10,000,000 in 2025 revenue. The Treasury would publish rules within 30 days and aim to issue refunds within 180 days after enactment. To get a refund, an applicant would need to commit to lowering customer prices in full proportion to the refund and show either targeted price cuts for essential consumer goods, a rebate mechanism for prior customers if it does not trade in essential goods, or that it absorbed the tariff cost. The Treasury would prioritize importers showing price cuts for essential goods or rebate mechanisms. Importers could not do stock buybacks or pay dividends until they certify completion of the required price-lowering steps.