To amend the Internal Revenue Code of 1986 to establish the individual tariff refund credit.

# Summary of HR 7636: Individual Tariff Refund Credit **What the Bill Would Do** This bill proposes to create a new tax credit for individual consumers to offset costs from tariffs (taxes on imported goods). If passed, eligible Americans could claim a refund or credit on their taxes to compensate for higher prices they've paid on imported products due to tariff policies. The specific details about which tariffs would qualify, income limits, or calculation methods are not detailed in the available information. **Who It Affects and Current Status** The bill would potentially benefit American consumers who purchase imported goods or products containing imported materials.

It's sponsored by Rep. Mike Thompson (D-California) and is currently in committee, meaning it has not yet been debated or voted on by the full House. This is an early stage in the legislative process, and the bill may be substantially revised or may not advance further.