Tariff Rebates: Direct Financial Relief for Working Families from Import Duties.
This Act introduces a one-time tax rebate for individuals, funded directly by revenues collected from tariffs imposed on foreign imports after January 20, 2025. Eligible individuals can receive at least $600 per adult and an additional amount for each qualifying child, providing immediate financial relief. These rebates will be paid in advance and are protected from certain federal or state debt offsets, ensuring the money goes directly to the taxpayers.
Key points
Direct Money Rebate: Each eligible adult will receive at least $600, and couples filing jointly will receive $1,200. An additional amount will be granted for each qualifying child.
Tariff Funding: The rebate funds come exclusively from new tariff revenues collected on imported goods after January 20, 2025.
Income Limitations: The rebate amount will be gradually reduced for higher earners—the reduction starts when adjusted gross income exceeds $150,000 for joint filers and $75,000 for single filers.
Protection from Offsets: Rebates cannot be seized or offset against certain outstanding federal debts or other assessed federal taxes as specified in the Act.
Identification Requirement: To receive the rebate, a valid Social Security Number must be provided for all individuals included on the return (taxpayer, spouse, and children).
Introduced
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