To amend the Internal Revenue Code of 1986 to establish the individual tariff refund credit.

Key Points

• This bill creates a way for the government to give money back to regular people if a court rules that certain import taxes, or tariffs, were illegal. Instead of the money just sitting in the treasury or going back to big businesses, it would be split up and sent to families.
• Most adults living in the U.S. would be eligible for this money. The amount a family receives would be based on the total number of people in the house, including children and spouses. These payments would arrive either as a credit on your taxes or as a direct check.
• The plan includes a rule for big companies that might try to claim this refund money for themselves. If a large corporation raised its prices to cover the cost of the tariffs, the government would take back their entire refund and give it to the public instead.
• Once a court makes a final ruling that a tariff was unlawful, the IRS would be required to send these payments out as fast as possible. You would also get a letter in the mail confirming how much you were sent and how to contact the government if the money didn't arrive.