Congress·In Committee·S. 3905

Sen. Wyden Introduces Tariff Refund Act to Return Billions in Unlawful Trade Taxes to Businesses

Tariff Refund Act of 2026

18 days ago·View on Congress.gov

Legislative Progress

Senate

House

President

Law

Key Points

This bill requires the government to give back money collected from certain trade taxes (tariffs) that the Supreme Court recently ruled were illegal. These taxes were originally put in place using emergency economic powers, but the court found they were not allowed under the law.
Any business that paid these specific tariffs would get their money back with interest. The bill specifically tells the government to process these payments within 180 days and to make sure the process is simple so small businesses don't get stuck in paperwork.
The plan prioritizes small businesses to receive their money first. It also requires U.S. Customs and Border Protection to work with the Small Business Administration to reach out to local companies and explain how they can claim their refunds.
The bill encourages large corporations and wholesalers to pass these refunds down to their customers. Since many businesses raised prices for families when the tariffs were first put in place, the goal is to see those prices come back down now that the money is being returned.
To ensure the money is actually moving, the government would have to send a report to Congress every 30 days. These reports must show exactly how many refunds have been sent out and how much money has been returned to both small and large businesses.

Economy FinanceTaxes

Impact Analysis

Personal Impact

Who is affectedScoreImpactCertaintyScopeDurationSentiment

Scores: 1 = low, 5 = highSentiment: -5 to +5 (net benefit)

Milestones

2 milestones2 actions

Feb 24, 2026Senate

Read twice and referred to the Committee on Finance.

Feb 24, 2026

Introduced in Senate

Related News

2 articles

Kiplinger·18 days ago

Will You Get a Trump Tariff Refund in 2026? What to Know Now

Following a 6-3 Supreme Court ruling that the president overstepped his authority, Senate Democrats introduced the Tariff Refund Act of 2026. The bill mandates the federal government to refund tariff revenue collected under IEEPA within 180 days with interest, prioritizing small businesses.

The Times of India·6 days ago

Nintendo sues the US government for refund on tariffs: Who all are demanding their money back

As thousands of companies like Nintendo and Costco file lawsuits for tariff refunds, Senate Democrats have introduced the Tariff Refund Act of 2026. The bill would mandate full refunds with interest within 180 days and give priority to small businesses in the repayment process.

CL=