Payback Act mandates refunds to American consumers for costs due to unauthorized tariffs.
The Payback Act requires the Secretary of the Treasury to refund American consumers for increased costs due to tariffs imposed without congressional authorization. The Secretary must finalize a refund formula within 180 days of enactment, using data from U.S. Customs and Border Protection and other federal sources. Refunds will be issued automatically through existing systems or via a streamlined application process for those not covered. The Government Accountability Office will review implementation and report findings to Congress.
The filed bill text is too short for analysis.