{"id":42095,"date":"2026-03-13T16:36:04","date_gmt":"2026-03-13T16:36:04","guid":{"rendered":"https:\/\/financialrush.com\/?p=42095"},"modified":"2026-03-13T16:36:04","modified_gmt":"2026-03-13T16:36:04","slug":"a-new-bill-could-create-a-tax-rebate-program","status":"publish","type":"post","link":"https:\/\/financialrush.com\/?p=42095","title":{"rendered":"A new bill could create a tax rebate program"},"content":{"rendered":"<p> \n<\/p>\n<div id=\"RegularArticle-ArticleBody-5\" data-module=\"ArticleBody\" data-test=\"articleBody-2\" data-analytics=\"RegularArticle-articleBody-5-2\"><span class=\"HighlightShare-hidden\" style=\"top:0;left:0\"\/><\/p>\n<div role=\"region\" aria-labelledby=\"Placeholder-ArticleBody-Video-108269620\">\n<div role=\"button\" tabindex=\"0\" id=\"Placeholder-ArticleBody-Video-108269620\" class=\"PlaceHolder-wrapper\" data-vilynx-id=\"7000404721\" data-test=\"VideoPlaceHolder\">\n<div class=\"InlineVideo-videoEmbed\" id=\"InlineVideo-0\" data-test=\"InlineVideo\">\n<div class=\"InlineVideo-wrapper\">\n<div class=\"InlineVideo-inlineThumbnailContainer\"><span class=\"InlineVideo-videoButton\"\/><span\/><\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<div class=\"group\">\n<p>After the Supreme Court\u00a0<a href=\"https:\/\/www.cnbc.com\/2026\/02\/20\/supreme-court-trump-tariffs-ruling.html\">struck down a large portion of President Donald Trump&#8217;s tariff agenda<\/a>\u00a0last month, the possibility of getting\u00a0<a href=\"https:\/\/www.cnbc.com\/2026\/01\/08\/stimulus-check-trump-tariffs-2000.html\">tariff dividend checks<\/a>\u00a0was seemingly discarded too, experts said.<\/p>\n<p>&#8220;Tariff dividends were a long shot from the beginning,&#8221; certified financial planner Stephen Kates, a financial analyst at Bankrate, <a href=\"https:\/\/www.cnbc.com\/2026\/02\/23\/trumps-2000-tariff-dividend-checks-are-less-likely-experts-say.html\">told CNBC<\/a> at the time.\u00a0Any such broad-based benefit program would require legislation passed by Congress and &#8220;there does not appear to be sufficient political support,&#8221; Kates said. &#8220;The odds of this policy moving forward is now effectively zero.&#8221;<\/p>\n<p>And then the &#8220;Tariff Refunds for Working Families Act&#8221; came along. <\/p>\n<p>On Thursday, Sen.\u00a0<a href=\"https:\/\/www.cnbc.com\/martin-heinrich--cnbc\/\">Martin Heinrich<\/a>, D-N.M., <a href=\"https:\/\/www.cnbc.com\/2026\/03\/12\/trump-trade-tariffs-tax-rebates-martin-heinrich-2026-elections.html\">introduced a bill<\/a> that would create a new\u00a0<a href=\"https:\/\/www.cnbc.com\/taxes\/\">tax rebate<\/a>\u00a0for those hit by higher costs for everyday items due to Trump&#8217;s <a href=\"https:\/\/www.cnbc.com\/2026\/03\/11\/trump-trade-investigations-ieepa-tariffs.html\">reciprocal tariffs<\/a>. If enacted as drafted, the rebate would provide joint filers making an annual income of under $180,000 with a payment of $1,200, plus an additional $600 for each dependent child, starting in the 2026 <a href=\"https:\/\/www.cnbc.com\/taxes\/\">tax year<\/a>.<\/p>\n<\/div>\n<div class=\"group\">\n<div class=\"RelatedContent-relatedContent\" id=\"RegularArticle-RelatedContent-1\">\n<div class=\"RelatedContent-container\">\n<div class=\"RelatedContent-nonCollapsibleContent\">\n<h2 id=\"read-more-cnbc-personal-finance-coverage\" class=\"RelatedContent-header\">Read more CNBC personal finance coverage<\/h2>\n<div class=\"group\">\n<ul>\n<li><a href=\"https:\/\/www.cnbc.com\/2026\/03\/13\/tariff-dividend-checks-a-new-bill-could-create-a-tax-rebate-program.html\">Did tariff dividend checks just become more likely? Economists weigh in<\/a><\/li>\n<li><a href=\"https:\/\/www.cnbc.com\/2026\/03\/13\/oil-prices-mortgage-rates.html\">&#8216;High oil prices are not good for mortgage rates,&#8217; economist says. What to know<\/a><\/li>\n<li><a href=\"https:\/\/www.cnbc.com\/2026\/03\/12\/iran-war-fed.html\">Iran war heightens affordability issues ahead of the Fed&#8217;s March meeting<\/a><\/li>\n<li><a href=\"https:\/\/www.cnbc.com\/2026\/03\/12\/spousal-ira-save-for-retirement.html\">Couples often miss this &#8216;overlooked tax break&#8217; for retirement savers: CFP<\/a><\/li>\n<li><a href=\"https:\/\/www.cnbc.com\/2026\/03\/12\/student-loan-oversight-trump-gao.html\">Trump administration has scaled back oversight of student loan servicers: GAO<\/a><\/li>\n<li><a href=\"https:\/\/www.cnbc.com\/2026\/03\/11\/social-security-cola-oil-prices.html\">Social Security 2027 COLA forecast may rise with high oil prices<\/a><\/li>\n<li><a href=\"https:\/\/www.cnbc.com\/2026\/03\/11\/personal-loan-credit-card-debt-consolidation.html\">You can&#8217;t &#8216;borrow your way out of debt,&#8217; expert says, but more people are trying<\/a><\/li>\n<li><a href=\"https:\/\/www.cnbc.com\/2026\/03\/11\/cpi-inflation-february-2026-breakdown.html\">Here&#8217;s the inflation breakdown for February 2026 \u2014 in one chart<\/a><\/li>\n<li><a href=\"https:\/\/www.cnbc.com\/2026\/03\/10\/save-plan-for-student-loan-borrowers-is-over-federal-appeals-court-.html\">SAVE plan used by millions of student loan borrowers is over, court orders<\/a><\/li>\n<li><a href=\"https:\/\/www.cnbc.com\/2026\/03\/10\/identity-theft-taxes.html\">Identity theft and your taxes: It&#8217;s &#8216;a terrible reverse lottery,&#8217; one victim says<\/a><\/li>\n<li><a href=\"https:\/\/www.cnbc.com\/2026\/03\/10\/iran-war-spikes-oil-prices-consumers.html\">As Iran war disrupts oil prices, consumers could be &#8216;hammered,&#8217; economist says<\/a><\/li>\n<li><a href=\"https:\/\/www.cnbc.com\/2026\/03\/09\/million-dollar-earners-social-security-2026.html\">Million-dollar earners have already stopped paying into Social Security for 2026<\/a><\/li>\n<li><a href=\"https:\/\/www.cnbc.com\/2026\/03\/09\/k-shaped-economy-women.html\">Women and the K-shaped economy: Lower pay, affordability issues reduce spending<\/a><\/li>\n<li><a href=\"https:\/\/www.cnbc.com\/2026\/03\/09\/401k-auto-portability-roth.html\">Small 401(k) accounts may follow workers to their next job \u2014 except Roth money<\/a><\/li>\n<li><a href=\"https:\/\/www.cnbc.com\/2026\/03\/08\/jobs-apocalypse-ai-proof-skilled-trades.html\">In a jobs apocalypse, look to &#8216;AI-proof&#8217; skilled trades, career experts say<\/a><\/li>\n<li><a href=\"https:\/\/www.cnbc.com\/2025\/10\/01\/best-financial-advisors.html\">CNBC&#8217;s Financial Advisor 100: Best financial advisors, top firms ranked<\/a><\/li>\n<\/ul>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<div class=\"group\">\n<p>Tariffs are a tax on imports from foreign nations and are paid for by U.S. entities that import the item.\u00a0<a href=\"https:\/\/www.cnbc.com\/2025\/10\/16\/tariff-costs-to-companies-this-year-to-hit-1point2-trillion-with-consumers-taking-most-of-the-hit-sp-says.html\">Companies often bear some of the cost<\/a>\u00a0and pass on the rest to consumers through\u00a0<a href=\"https:\/\/www.cnbc.com\/2025\/06\/12\/here-are-the-three-reasons-why-tariffs-have-yet-to-drive-inflation-higher.html\">higher prices<\/a>.<\/p>\n<p><a href=\"https:\/\/libertystreeteconomics.newyorkfed.org\/2026\/02\/who-is-paying-for-the-2025-u-s-tariffs\/\" target=\"_blank\">A paper published last month<\/a>\u00a0by the Federal Reserve Bank of New York found that U.S. firms and consumers bore &#8220;the bulk&#8221; \u2014 roughly 90% \u2014 of the economic burden of tariffs imposed in 2025. White House officials\u00a0<a href=\"https:\/\/www.cnbc.com\/2026\/02\/18\/hassett-says-authors-of-new-york-fed-tariff-study-should-be-disciplined-worst-paper-ive-ever-seen.html\">disputed that finding<\/a>.<\/p>\n<p>&#8220;This bill will return the money lost to Trump&#8217;s tariffs back to the people who paid the price,&#8221; Heinrich said in a <a href=\"https:\/\/www.heinrich.senate.gov\/newsroom\/press-releases\/heinrich-leads-legislation-to-refund-working-families-for-trumps-unlawful-tariffs\" target=\"_blank\">release<\/a> announcing his legislation.<\/p>\n<\/div>\n<div class=\"InlineImage-imageEmbed\" id=\"ArticleBody-InlineImage-108276898\" data-test=\"InlineImage\">\n<div class=\"InlineImage-wrapper\">\n<div>\n<p>A customer shops in a grocery store on March 11, 2026 in Miami, Florida.<\/p>\n<p>Joe Raedle | Getty Images<\/p>\n<\/div>\n<\/div>\n<\/div>\n<div class=\"group\">\n<p>The Supreme Court did not rule on\u00a0<a href=\"https:\/\/www.cnbc.com\/2026\/02\/20\/supreme-court-trump-tariff-decision-illegal-refunds.html\">potential tariff refunds<\/a>, but &#8220;it appears without new legislation,\u00a0the law dictates those who sent in the tariff checks, importers, are the ones who will be paid back even though they may not have been harmed,&#8221; said Tomas Philipson, a professor of public policy studies at the University of Chicago and former acting chair of the White House Council of Economic Advisers.\u00a0<\/p>\n<p>After the high court&#8217;s ruling, the White House invoked\u00a0<a href=\"https:\/\/www.cnbc.com\/2026\/02\/20\/trump-global-trade-tariff-supreme-court.html\">Section 122\u00a0of the Trade Act of 1974<\/a> to enact new tariffs, which Treasury Secretary Scott Bessent <a href=\"https:\/\/home.treasury.gov\/news\/press-releases\/sb0403#:~:text=virtually%20unchanged%20tariff%20revenue%20in%202026.\" target=\"_blank\">said<\/a> &#8220;will result in virtually unchanged tariff revenue in 2026.&#8221; <\/p>\n<\/div>\n<h2 id=\"the-tariff-impact-on-consumers\" class=\"ArticleBody-subtitle\"><a id=\"headline0\"\/>The tariff impact on consumers<\/h2>\n<div class=\"group\">\n<p>A recent analysis by the\u00a0<a href=\"https:\/\/budgetlab.yale.edu\/research\/state-tariffs-march-9-2026\" target=\"_blank\">Budget Lab at Yale<\/a>\u00a0found that the increase in prices <strong>due to tariffs through March 9<\/strong> was expected to cost each household between $450 and $570, on average.\u00a0If Section 122 tariffs are made permanent, the household loss figure would be between $770 and $940. <strong>The U.S. Congress Joint Economic Committee<\/strong> put the estimates closer to <a href=\"https:\/\/www.jec.senate.gov\/public\/_cache\/files\/4836e257-91a5-426b-95bb-3e575a855f5b\/jec-fact-sheet-on-cost-of-tariffs-for-families-2026.pdf\" target=\"_blank\">$2,500 per household<\/a>. <\/p>\n<p>&#8220;There is no way to completely undo the economic effects of tariffs that were enacted last year,&#8221; Bankrate&#8217;s Kates told CNBC in an email this week. He also said that direct payments could cause\u00a0<a href=\"https:\/\/www.cnbc.com\/id\/10000793\">inflation<\/a>\u00a0to worsen.<\/p>\n<p>As oil prices climb and global trade faces uncertainty, &#8220;introducing new stimulus, even if targeted to specific households, would be risky at a time when inflation pressures are rising,&#8221; Kates said. <\/p>\n<\/div>\n<h2 id=\"the-affordability-issue\" class=\"ArticleBody-subtitle\"><a id=\"headline1\"\/>The affordability issue<\/h2>\n<div class=\"group\">\n<p>Heinrich&#8217;s bill is part of the effort by Democrats to address affordability issues\u00a0ahead of the\u00a0<a href=\"https:\/\/www.cnbc.com\/2026\/03\/07\/iran-war-affordability-midterm.html\">2026 midterm elections<\/a>, experts say.\u00a0The expanding\u00a0<a href=\"https:\/\/www.cnbc.com\/us-news\/\">U.S<\/a>. war in the\u00a0<a href=\"https:\/\/www.cnbc.com\/access-middle-east\/\">Middle East<\/a>\u00a0has only amplified <a href=\"https:\/\/www.cnbc.com\/2026\/03\/12\/iran-war-fed.html\">cost-of-living concerns<\/a> as energy prices surge.<\/p>\n<p>Republicans, too, have raised the idea of making\u00a0<a href=\"https:\/\/www.cnbc.com\/2025\/11\/11\/trump-2000-tariff-rebate-plan.html\">direct distributions to Americans<\/a> in the lead-up to <a href=\"https:\/\/www.cnbc.com\/elections\/\">November&#8217;s midterm elections<\/a>.<\/p>\n<p>&#8220;While both parties are eager to claim credit for a popular policy ahead of the midterm elections, injecting additional money into the economy could also intensify the very price increases that the refunds are intended to address,&#8221; Kates said. <\/p>\n<p>However, since companies are unlikely to lower their\u00a0prices to reflect the rollback of <a href=\"https:\/\/www.cnbc.com\/2026\/02\/20\/supreme-court-trump-tariffs-ruling.html\">Trump&#8217;s tariff agenda<\/a>, directing government refunds to the households and businesses that bore some of the burden &#8220;could make some sense,&#8221; said Brett House, an economics professor at Columbia Business School.\u00a0<\/p>\n<p>Further, &#8220;since both sides of the aisle have proposed bills to implement these refunds, it should be possible to find bipartisan support for this,&#8221; House said. <\/p>\n<\/div>\n<h2 id=\"an-idea-for-a-stimulus-check\" class=\"ArticleBody-subtitle\"><a id=\"headline2\"\/>An idea for a stimulus check <\/h2>\n<div class=\"group\">\n<p>The idea for stimulus checks funded with tariff revenue was first floated by the president back in July. That summer, Sen. Josh Hawley, R-Mo., <a href=\"https:\/\/www.cnbc.com\/2025\/07\/29\/tariff-rebate-check-trump.html\">introduced<\/a>\u00a0the\u00a0<a href=\"https:\/\/www.hawley.senate.gov\/wp-content\/uploads\/2025\/07\/Hawley-American-Worker-Rebate-Act-Bill-Text.pdf\" target=\"_blank\">American Worker Rebate Act of 2025<\/a>. The Senate referred the bill to the Committee on Finance, where it remains.<\/p>\n<p>Later in 2025, Trump said that a rebate check with the money his tariffs had generated would be forthcoming.<\/p>\n<p>&#8220;A dividend of at least $2000 a person (not including high income people!) will be paid to everyone,&#8221; the president wrote in a\u00a0<a href=\"https:\/\/truthsocial.com\/@realDonaldTrump\/posts\/115519726463094783\" target=\"_blank\">post<\/a>\u00a0on Truth Social in November.<\/p>\n<\/div>\n<div class=\"group\">\n<p>At the end of last year, National Economic Council Director Kevin Hassett also said that &#8220;the president will bring forth a proposal to Congress to make that happen.&#8221;<\/p>\n<p>When asked about tariff rebates in January, Trump said the checks would come &#8220;toward the end of the year.&#8221;<\/p>\n<p><a href=\"https:\/\/www.youtube.com\/c\/CNBC?sub_confirmation=1\" target=\"_blank\"><em><strong>Subscribe to CNBC on YouTube.<\/strong><\/em><\/a><\/p>\n<\/div>\n<div class=\"ArticleBody-googlePreferredSourceContainer\" data-module=\"GooglePreferredSource\" data-id=\"RegularArticle-GooglePreferredSource-5\"><a href=\"https:\/\/www.google.com\/preferences\/source?q=https:\/\/www.cnbc.com\/\" target=\"_blank\" rel=\"noopener noreferrer\">Choose CNBC as your preferred source on Google and never miss a moment from the most trusted name in business news.<\/a><\/div>\n<\/div>\n\n<br \/><a href=\"https:\/\/www.cnbc.com\/2026\/03\/13\/tariff-dividend-checks-a-new-bill-could-create-a-tax-rebate-program.html\">Source link <\/a><\/p>\n","protected":false},"excerpt":{"rendered":"After the Supreme Court\u00a0struck down a large portion of President Donald Trump&#8217;s tariff agenda\u00a0last month, the possibility of&hellip;\n","protected":false},"author":3,"featured_media":42096,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[11],"tags":[],"class_list":["post-42095","post","type-post","status-publish","format-standard","has-post-thumbnail","category-investing","cs-entry","cs-video-wrap"],"_links":{"self":[{"href":"https:\/\/financialrush.com\/index.php?rest_route=\/wp\/v2\/posts\/42095","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/financialrush.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/financialrush.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/financialrush.com\/index.php?rest_route=\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"https:\/\/financialrush.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=42095"}],"version-history":[{"count":0,"href":"https:\/\/financialrush.com\/index.php?rest_route=\/wp\/v2\/posts\/42095\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/financialrush.com\/index.php?rest_route=\/wp\/v2\/media\/42096"}],"wp:attachment":[{"href":"https:\/\/financialrush.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=42095"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/financialrush.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=42095"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/financialrush.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=42095"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}