Sponsors (11)
The bill returns collected surcharges to importers and prevents similar executive-funded surcharges going forward—benefiting businesses and consumers today at the cost of reduced Customs revenue, legal uncertainty, and a narrower rapid-tariff authority for the President.
Importers and U.S. businesses (including small-business owners) will receive refunds of duties collected between Feb 20, 2026 and enactment, returning cash to affected firms.
Consumers (particularly middle-class families) are likely to face lower prices on affected imported goods because the surcharge is eliminated.
Taxpayers and state governments gain a check on executive action because the bill prohibits using federal funds to implement similar temporary import surcharges in the future, limiting unilateral tariff actions without Congress.
The bill restricts the President's ability to quickly impose tariffs for national-security or foreign-policy reasons, limiting an executive tool used in urgent crises.
Refunding duties will reduce Customs revenue and impose administrative costs on Treasury and CBP to process claims and repayments, which could raise fiscal pressures for taxpayers and government operations.
Immediate nullification of the proclamation could prompt legal challenges from supporters or trading partners, creating uncertainty for importers and exporters.
Based on analysis of 1 section of legislative text.
Voids Proclamation 11012 and similar presidential import surcharges, bans federal funds to implement them, and requires refunds for amounts collected Feb 20, 2026 through enactment.
Nullifies Presidential Proclamation 11012 (and any successor or substantially similar proclamation) that imposed a temporary import surcharge and bars federal funds from being used to implement such proclamations. It also requires the President to provide refunds of any tariffs or duties collected under that proclamation (and similar actions) for the period from February 20, 2026 through the date of enactment.
Official title: To nullify the Presidential Proclamation relating to Imposing a Temporary Import Surcharge to Address Fundamental International Payments Problems, and for other purposes.
Introduced April 9, 2026 by James Varni Panetta · Last progress April 9, 2026