President Donald Trump has suggested that tariffs are bringing in so much money to the U.S. government that taxpayers should receive a rebate.
“We’re thinking about a rebate because we have so much money coming in from tariffs that a little rebate for people of a certain income level might be very nice,” he said on July 25.
Tell Us: Would a $600/Person Rebate Make a Dent in Your Cost of Living Right Now?
It did not take long for someone to try to push that idea through. Sen. Josh Hawley (R-Mo.) introduced a bill proposing rebate checks of at least $600 per person (that would be $2,400 for a family of four). The rebates would come to people as tax credits.
The proposed payments would diminish for people earning over $75,000, heads of households making more than $112,500 and joint filers combining for more than $150,000. While customs duties brought in $27 billion in June, the larger impact of tariffs remains controversial. The Tax Foundation projected that tariffs would lead to added taxes for the average household of $1,300 this year and nearly $1,700 in 2026, at the current tariff rates.
Tell Us: Would a $600/Person Rebate Make a Dent in Your Cost of Living Right Now?
This article originally appeared on GOBankingRates.com: Take Our Poll: Would a $600 Rebate Make a Dent in Your Cost of Living Right Now?
