Bill > S2475

This bill, called the "American Worker Rebate Act of 2025", aims to provide tax rebates to individuals using revenue generated from tariffs on foreign imports. The rebate is a tax credit for eligible individuals in the first taxable year of 2025, with the amount determined by a formula that considers both the total tariff proceeds and the number of qualifying children in a household. The credit amount starts at a minimum of $600 and can increase based on the total tariff revenue divided by the number of eligible individuals and their children. Eligibility is restricted, excluding non-resident aliens, individuals claimed as dependents by another taxpayer, and estates or trusts. The rebate is subject to income limitations, with the credit reducing for individuals with adjusted gross incomes above certain thresholds ($75,000 for single filers, $112,500 for head of household, and $150,000 for joint returns). The bill also allows for advance refunds in 2024 and includes provisions for electronic payment delivery, specific identification number requirements, and a public awareness campaign to inform potential recipients about the rebate. The legislation ensures that these rebates cannot be reduced or offset by other federal tax obligations and provides special considerations for U.S. territories and members of the armed forces.

Budget and Finance

https://www.congress.gov/bill/119th-congress/senate-bill/2475/all-info