Sponsors (43)
The bill delivers fast, streamlined refunds of IEEPA tariffs to importers—providing near-term relief for small businesses—while shifting fiscal costs to taxpayers and creating potential national-security and administrative trade-offs for federal agencies.
Importers (including many small businesses) will receive refunds of IEEPA tariffs collected since Jan 1, 2025, improving their cash flow and lowering immediate import costs.
Importers (and their banks/financial partners) will not need to file applications or protests to obtain refunds, reducing paperwork, legal disputes, and administrative delays for businesses and financial institutions.
Affected importers will receive refunds within 90 days of enactment, providing rapid relief and predictable timing for business planning and cash management.
Taxpayers will ultimately bear the cost of refunded tariff revenue, which could increase deficits or reduce funding available for other programs.
Refunding IEEPA tariffs without regard to the national-security or foreign-policy reasons for those tariffs could weaken sanctions enforcement and complicate U.S. foreign-policy tools.
Customs and Border Protection will face administrative and cash-flow strain to process and disburse a large volume of refunds within 90 days, potentially diverting resources from other agency functions.
Based on analysis of 2 sections of legislative text.
Directs CBP to refund IEEPA-imposed import duties collected on or after Jan 1, 2025, to importers within 90 days without requiring claims.
Introduced February 20, 2026 by Steven Horsford · Last progress February 20, 2026
Requires U.S. Customs and Border Protection (CBP) to liquidate or reliquidate all import entries for which tariffs or other duties imposed under the International Emergency Economic Powers Act (IEEPA) were collected on or after January 1, 2025, and to refund those amounts to the importer of record. CBP must calculate and disburse refunds within 90 days of enactment using available agency information and may not require importers to file applications or protests to receive refunds. The provision defines “entry” to include withdrawals from warehouse for consumption and operates notwithstanding the Tariff Act protest deadlines, IEEPA, or any other law that would prevent these refunds.