Sponsors (65)
The bill quickly and automatically returns IEEPA-related tariff collections to importers—especially helping small businesses—at the cost of a substantial one-time federal outlay and reduced administrative and legal flexibility for Treasury/CBP, with potential strains on agency operations.
Importers—especially U.S. small businesses—will receive automatic refunds of tariffs/duties charged under IEEPA on goods entered or withdrawn on/after January 1, 2025, restoring paid amounts without needing individual claims.
Importers and their banks will avoid having to file protests or separate refund applications because CBP must calculate and disburse refunds using available data, reducing compliance paperwork and administrative burden.
Importers will get faster access to refunded amounts because CBP is required to complete liquidations/reliquidations and issue refunds within 90 days after enactment, shortening the time firms are out-of-pocket.
The federal government—and thus taxpayers and possibly state budgets—will absorb significant one-time refund costs, increasing federal outlays and creating budgetary pressure.
Requiring refunds 'notwithstanding' IEEPA and normal tariff protest rules reduces Treasury and CBP legal flexibility to retain or contest sanction-related collections, potentially weakening enforcement options tied to national-security and sanctions policy.
Mandating that CBP reconcile data and issue refunds within 90 days could strain CBP resources, raising the risk of processing delays or errors that disrupt financial institutions and trade operations.
Based on analysis of 4 sections of legislative text.
Requires CBP to reliquidate IEEPA-imposed duties collected on/after Jan 1, 2025 and refund those amounts to importers within 90 days without requiring protests.
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 26, 2026 by Steven Horsford · Last progress February 26, 2026
Directs 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 refunds within 90 days of enactment using available data, without requiring importers to file protests or applications, and the term “entry” includes withdrawals from warehouse for consumption.