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cm0002 to United States | News & Politics@midwest.socialEnglish · 3 months ago

US may owe $1 trillion in refunds if SCOTUS cancels Trump tariffs

arstechnica.com

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US may owe $1 trillion in refunds if SCOTUS cancels Trump tariffs

arstechnica.com

cm0002 to United States | News & Politics@midwest.socialEnglish · 3 months ago
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Tech industry primed for big refunds if SCOTUS rules against Trump tariffs.
  • MrFappy@lemmy.world
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    3 months ago

    No, it’s the firms that bought the tariff debt who are getting the refunds. These business owners sold off the obligation for pennies on the dollar to a firm which is run by one of the richest men in the country (his dad ran it before he did, I just can’t remember names) and that business will get the trillions in refunds if this occurs. This was all a gigantic grift happening right before our very eyes.

    • dhork@lemmy.world
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      3 months ago

      Holy shit, this is actually a thing

      https://talkingpointsmemo.com/edblog/lutnick-family-angling-to-make-astronomical-sums-off-court-nixing-tariffs

      (Billions, not trillions, though)

      • MrFappy@lemmy.world
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        3 months ago

        Thank you for looking it up, I can only do so much from the bathroom at work in the limited time I have each pee break lol

    • KoboldCoterie@pawb.social
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      3 months ago

      Great, that pisses me off even more.

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