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If you’ve been waiting for another stimulus check since receiving your last Covid relief payment in 2021, you might be lucky.
Sen. Josh Hawley (R-Mo.) introduced a law that sent a “custom rebate” that said, “hard-working Americans can benefit from the wealth that Trump’s tariffs are back in this country.”
As Hill reports, the rebates will be modelled after payments are sent after Congress approves the Care Act of 2020. In that case, the adults received direct payments of $1,200 and $500 for the dependent children.
Unlike these payments, these rebates help offset the higher prices that consumers face in customs duties. According to Holy, the US recorded a tariff revenue of $30 billion as of June. He cited additional forecasts that revenue could exceed $150 billion this year alone.
However, under Holy’s bill, individual payments will be much smaller.
How much is the rebate for customs duties?
Each adult, like each child who is dependent on, receives “at least $600.” For example, a total rebate for a Dink (double income, no children) family would be at least $1,200, while a family of four could receive $2,400.
According to a press release from the Holy office explaining the proposed law, payments could increase “if they exceed current forecasts for 2025” and “if they exceed current forecasts for 2025.”
Payments will also decrease based on household income. The bill’s text says rebates will be reduced based on taxpayer application status and adjusted gross income. That income threshold is $150,000 for those filing a joint return. $112,500 for those submitting as head of household. $75,000 for a single taxpayer.
Who is eligible to pay?
Hawley’s bill explicitly outlines who is not eligible, rather than explicitly outlines who is not eligible. That includes “non-resident alien individuals.” Someone who can claim taxes from another taxpayer. and real estate or trust.
As we saw in the Covid Stimulus Check, the latest taxes may be used to determine your eligibility and the size of your payment.
When will the customs rebate be sent?
It’s too early to say that, as Holy bills still need to do it through Congress.
President Donald Trump expressed his support for the idea, telling reporters last week that the US “is coming in a lot of money” due to tariffs “we’re thinking of a bit of a rebate.”
“A little rebate for people at a certain income level might be very good,” he said, but “What we want to do is pay off the debt.”
As of Tuesday, the federal deficit was around $36.7 trillion. If you want to pay it back, you can now contribute to the “Gifts to Reduce Public Debt” program using Venmo.
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