Sponsors (59)
The bill returns tariff collections to importers and reduces their administrative burden, improving cash flow for businesses, but does so at a fiscal cost and with potential operational strains for customs and possible complications for sanctions enforcement.
Importers of record — especially small businesses — will receive automatic refunds of IEEPA‑imposed tariffs collected on or after Jan 1, 2025, restoring cash flow to U.S. businesses and potentially lowering costs for consumers.
Importers and financial intermediaries will get faster redress because CBP must complete liquidations and issue refunds within 90 days of enactment.
Importers will face less paperwork and administrative burden because they no longer must file protests or applications to obtain these refunds.
Taxpayers and federal finances will bear the cost because refunds reduce federal revenue and could increase deficits or reduce funds available for other programs.
Federal customs operations and staff could be strained by the 90‑day deadline, risking delays in other CBP functions and increased workload for federal employees and contractors.
Trade enforcement and national security agencies could face complications enforcing sanctions or emergency trade controls if reliance on IEEPA or established protest procedures is limited by this refund approach.
Based on analysis of 4 sections of legislative text.
Requires CBP to reliquidate entries with IEEPA duties collected on/after Jan 1, 2025 and refund them to importers within 90 days without requiring protests.
Introduced February 26, 2026 by Steven Horsford · Last progress February 26, 2026
Requires U.S. Customs and Border Protection to cancel and recalculate (liquidate or reliquidate) all import entries for which tariffs or duties imposed under the International Emergency Economic Powers Act were collected on or after January 1, 2025, and to refund those amounts to the importer of record. CBP must issue refunds using available records without requiring importers to file applications or protests and complete the process within 90 days after the law takes effect. Defines “entry” to include withdrawals from warehouse for consumption and directs CBP to proceed even if other statutes or deadlines (such as protest deadlines) would normally apply.