The windfall from tariffs could reach the wallets of Americans.
At least that is what one Senate Republican wants to happen.
According to a report on Fox Business, the tariffs imposed by President Donald Trump earlier this year has resulted in billions of dollars — well on its way to the $300 billion in total revenue to the federal government goal.
Sen. Josh Hawley (R-Mo.) has introduced a bill that would take the money gleaned from tariffs and distribute it to Americans. Families would receive $600 per adult and child. For a family of four, this adds up to $2,400.
Trump recently hinted at the possibility of a rebate.
“We’re thinking about a little rebate,” Trump said last week. “But the big thing we want to do is pay down debt. But we’re thinking about a rebate.”
Hawley said this is what “Americans deserve” after four years with former President Joe Biden in the White House.
“Americans deserve a tax rebate after four years of Biden policies that have devastated families’ savings and livelihoods,” Hawley said.
“Like President Trump proposed, my legislation would allow hard-working Americans to benefit from the wealth that Trump’s tariffs are returning to this country,” he continued in a statement.
Senate Democrats have pushed the theory that American consumers will ultimately shoulder the cost of tariffs.
The guidelines for this rebate would mirror that in 2020 during the COVID-19 pandemic when $1,200 stimulous chechs were disbursed.
Plus, the more revenue brought in by tariffs, the more likely the $600 base payment would increase.
