Ranking Member Edward J. Markey of Massachusetts called on March 12 for the largest retailers and shipping companies in the United States to return tariff refunds to consumers and small businesses. Markey sent letters to Amazon, FedEx, Wal-Mart, Costco, DHL, and UPS following a recent U.S. Supreme Court decision that struck down President Trump’s International Emergency Economic Powers Act (IEEPA) tariffs.
The issue is significant because many small businesses and consumers paid most of the costs associated with these tariffs. Markey said in his letter that up to $182 billion in tariff refunds may be owed, with additional hundreds of millions potentially due as interest. He criticized the Trump administration’s approach to processing these refunds, stating: “U.S. consumers and business paid up to 90% of the cost of Trump’s tariffs, and $182 billion in tariff refunds may be owed, with hundreds of millions of dollars more to be paid in interest. In court filings in the tariff litigation, the Trump administration represented that it would expeditiously process refunds if it lost the tariff case. But the Administration has since changed its tune, suggesting that the refund question now ‘has to get litigated’ for as long as ‘the next two years.’”
Markey also urged companies not to delay returning funds: “Other large businesses have promised to return tariff refunds, or to issue automatic refunds to customers who paid them rather than ‘waiting around for a rebate that may never come.’ I ask that your company does this as well to help ease America’s affordability crisis.” He requested detailed information from each company about their handling of IEEPA tariffs by April 15.
In recent months, Markey has introduced several legislative efforts aimed at supporting small businesses affected by tariffs. These include introducing the Tariff Refund Act of 2026 with other Senate leaders and calling for investigations into reports that Wall Street traders are buying tariff rebates from small businesses at reduced rates due to delays in official refund processes.
The Senate Small Business and Entrepreneurship Committee plays a role in shaping national fiscal priorities according to its official website. The committee also provides Congress with policy options on federal budget matters according to its official website, contributes through resolutions and reconciliation instructions according to its official website, was established by the Congressional Budget and Impoundment Control Act of 1974 according to its official website, features Lindsey Graham as chairman and Jeff Merkley as ranking member according to its official website, and provides nonpartisan budgetary analysis through oversight of the Congressional Budget Office according to its official website.
Looking ahead, Markey continues his efforts alongside other Senate Democrats by introducing new legislation such as the Small Business Liberation 2.0 Act aimed at protecting small business owners from further economic harm related to tariffs.
