Sponsors (43)
The bill ensures timely, automatic refunds of certain IEEPA tariffs and reduces paperwork for importers (helping small businesses), but does so at the cost of reduced federal revenue and potential strains on customs resources and foreign‑policy flexibility.
Importers — including many small businesses — will receive refunds of IEEPA-imposed tariffs collected on or after Jan 1, 2025, processed automatically within 90 days so businesses recover paid import costs and face less paperwork.
Businesses gain clearer legal authority and predictability because the bill overrides conflicting provisions (19 U.S.C. §1514 and 50 U.S.C. §1701) to ensure timely refunds.
All taxpayers could be affected because refunding previously collected IEEPA duties will reduce federal revenue and could increase the deficit or require spending offsets.
Customs and border operations may be strained by the 90-day automatic refund deadline, potentially diverting CBP staff from other customs, enforcement, or border‑security duties.
Automatic refunds could limit use of IEEPA duties as foreign‑policy leverage or complicate sanctions implementation, reducing flexibility in trade and sanctions policy.
Based on analysis of 2 sections of legislative text.
CBP must liquidate/reliquidate entries with IEEPA tariffs collected on/after Jan 1, 2025 and refund those amounts to importers within 90 days, without importer protests.
Requires U.S. Customs and Border Protection to liquidate or reliquidate all import entries for which any amounts were collected on or after January 1, 2025 as a tariff or other duty imposed under the International Emergency Economic Powers Act (IEEPA), and to refund those amounts to the importer of record. CBP must complete those liquidations/reliquidations and issue refunds within 90 days of enactment, using its records and without requiring importers to file protests or applications.
Official title: To require the Commissioner of U.S. Customs and Border Protection to refund tariffs collected under the International Emergency Economic Powers Act, and for other purposes.
Introduced February 20, 2026 by Steven Horsford · Last progress February 20, 2026