Tariff refund plans take shape as Trump administration outlines a 4-step process
Source: Yahoo Finance
The Trump administration this week outlined a four-step tariff refund process that could be ready for companies to begin using by later this spring.
The plans were included in a court filing to the US Court of International Trade from Brandon Lord, the executive director of the US Customs and Border Protection's trade policy department.
The four steps a claim portal, a "mass processing" step, a review of refund findings, and a final step where "the refunds will be sent electronically to the designated bank account" are currently being built, with the components 40% to 80% complete, Lord said.
The name of the system will be the Consolidated Administration and Processing of Entries (CAPE) portal. In the six-page filing, Lord expressed hope that the web-based platform will be able to process most refund requests in this "first phase of development" before more functionality is later added for more complicated scenarios.
Read more: https://www.yahoo.com/finance/news/tariff-refund-plans-take-shape-as-trump-administration-outlines-a-4-step-process-164834675.html
Deuxcents
(27,682 posts)slightlv
(7,941 posts)But this portal is for refunds... and those are going to companies... not we who actually paid the taxes. Anyone wanna bet when companies begin slashing profits once they get their refunds? /snark
UpInArms
(55,347 posts)So companies get their refunds, but individuals get nothing and those costs were added into the price that people paid for the products
When do the people get their money back?
Lovie777
(23,714 posts)it's like when tic tok gave shithole and comrades $10 billion.
MichMan
(17,390 posts)Lawyers are going to make a killing
imaginary girl
(1,041 posts)They got them for 10 - 20 percent of what they'll receive.
Autumn
(49,019 posts)
Kick in to the DU tip jar?
This week we're running a special pop-up mini fund drive. From Monday through Friday we're going ad-free for all registered members, and we're asking you to kick in to the DU tip jar to support the site and keep us financially healthy.
As a bonus, making a contribution will allow you to leave kudos for another DU member, and at the end of the week we'll recognize the DUers who you think make this community great.