Last month, President Donald Trump teased that a potential rebate could be attached to the worldwide tariffs he announced earlier this year.
“We have so much money coming in, we’re thinking about a little rebate,” Trump said on July 25 ahead of his trip to Scotland, where he planned to iron out the details of a United Kingdom trade agreement.
The White House has announced that some of the tariffs, which were disclosed on April 2, have raised $100 billion in revenue .
Trump didn’t provide further details on the potential rebates, which are unlikely to pass in Congress, except to say they would only be available to people from certain income levels. The president would need congressional approval to authorize the rebates.
While details are scarce, here’s what you need to know about a