Overview

• Introduced in late July, the American Worker Rebate Act would send at least $600 per person, up to $2,400 for a family of four, with scaled reductions above $75,000 for individuals and $150,000 for joint filers.
• The bill is stalled in the Senate Finance Committee and must clear both the Senate and the House before President Trump could authorize any payments.
• Media reports from Benzinga citing India’s The Economic Times claim the IRS has approved a $1,390 rebate, but neither the IRS nor the Treasury has verified those figures.
• The White House says tariffs disclosed in April have generated $100 billion so far and Treasury Secretary Scott Bessent projects $300 billion in annual receipts to fund potential rebates.
• Economists and some Republican senators warn rebate spending could stoke inflation and undermine debt-reduction goals, and with Congress on break until September 2, near-term passage appears unlikely.