Sponsors (27)
The bill would return certain duties to importers—especially benefiting small businesses and potentially lowering consumer prices—while increasing federal costs and administrative burdens, with uncertain real-world pass-through to end users.
Small businesses and other importers will receive refunds (with interest) of certain IEEPA-imposed duties, improving cash flow and reducing immediate import costs.
Consumers and downstream purchasers could see lower prices if importers pass refunded duties through to customers.
Small businesses will face reduced paperwork and clearer procedures due to targeted outreach and simplified refund processes, making reimbursement easier to obtain.
Taxpayers may indirectly bear the cost of large duty refunds (and related administrative expenses), which could increase deficits or crowd out other federal spending.
Consumers and small-business customers may not actually benefit if importers or wholesalers do not voluntarily pass refunds through, leaving end users with no price relief.
U.S. Customs and Border Protection will face significant administrative workload and a tight 180-day deadline to process refunds, risking delays, implementation challenges, or higher enforcement/processing costs.
Based on analysis of 3 sections of legislative text.
Introduced February 24, 2026 by Ronald Lee Wyden · Last progress February 24, 2026
Requires U.S. Customs and Border Protection (CBP) to refund, with interest, all duties collected under the International Emergency Economic Powers Act (IEEPA) on covered articles, and to reliquidate entries to the duty rate that would have applied without those IEEPA duties. The bill directs CBP to prioritize payments to small businesses, coordinate outreach with the Small Business Administration, issue guidance on drawback claims, and submit regular 30‑day status reports to specified congressional committees until refunds are completed.