President Donald Trump recently said his trade tariffs are producing so much income for the U.S. government that taxpayers could receive rebates.
Tell Us: Would You Rather Have a Tariff Rebate or No Tariffs at All?
“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.
Sen. Josh Hawley (R-Mo.) — a major proponent of taxpayer relief — immediately seized on that idea and proposed a tax-credit rebate of at least $600 per person ($2,400 for a family of four).
The proposed rebates would shrink for those who earn more than $75,000, heads of households who earn more than $112,500 and joint filers with more than $150,000 in income. 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 You Rather Have a Tariff Rebate or No Tariffs at All?
This article originally appeared on GOBankingRates.com: Take Our Poll: Would You Rather Have a Tariff Rebate or No Tariffs at All?
