The Trump Administration Stole Tariff Money From Every American And Won't Give It Back
Treasury Secretary Scott Bessent refused to say that he would give the American people their money back from Trump's illegal tariffs.
When the Supreme Court ruled that Trump’s reciprocal tariffs were not legal, it created a big problem for the Trump administration.
Reuters asked Penn-Wharton Budget Model economists to calculate how Trump may owe the American people in tariff refunds and reported:
More than $175 billion in U.S. tariff collections are subject to potential refunds after the U.S. Supreme Court on Friday struck down President Donald Trump's broad emergency tariffs, Penn-Wharton Budget Model economists said.
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Trump has touted the revenue generated by all of his tariffs, which were estimated by the Congressional Budget Office at about $300 billion annually over the next decade.
Refunds of $175 billion would exceed the combined fiscal 2025 spending by the Department of Transportation and the Department of Justice.
2028 Democratic presidential contenders like Govs. JD Pritzker and Gavin Newsom have jumped on this and demanded that Trump issue tariff rebate checks, but instead of abandoning tariffs and trying to right their wrong, the Trump administration has doubled down.
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Trump has imposed a new global tariff of 15%, which is limited in duration and will expire in August, but a Supreme Court majority gave him an off-ramp to get rid of a losing issue, and instead, the president doubled down.
Even worse, Treasury Sec. Scott Bessent would not commit to giving the American people a refund.
Keep reading below.
