Tariff refunds are showing up -- in a big way -- on the government's bottom line

[Yo_Mama_Been_Loggin]

The US Customs and Border Protection (CBP), which is managing the tariff refund process, has already withdrawn about $14 billion more in May than in all of April, a clear indication that the quantity of checks going out to importers is heating up rapidly.

Tracking data from the US Treasury Department shows that, as of May 20, the CPB has withdrawn about $17 billion in operating cash, a major jump over the $3 billion for all of April.

At this pace, tariff refunds could exceed tariff revenue by the time the month is out. The US collected $22.12 billion in duties in all of April.

May’s data so far doesn’t give a detailed breakdown, but the vast majority of these additional withdrawals are earmarked for refunds for duties collected under the International Emergency Economic Powers Act of 1977. Those tariffs were declared illegal in February by the Supreme Court, and the refunds are now being disbursed to businesses.

https://finance.yahoo.com/markets/article/tariff-refunds-are-showing-up--in-a-big-way--on-the-governments-bottom-line-143000682.html

So much winning!!!

[Goonch]

1. ;-{) THE REST OF US

[Igel]

2. My vln is doing Campagnoli unaccompanied when the rest are playing Blind Boy Fuller;

And the audience expects either Nirvana covers or hip-hop.

And there's dissatisfaction. Go figure.

Biden got a big 'deficit reduction' bump, courtesy of SCOTUS a hated decision. But all that student loan foregivenness, expensed once year, was 'unexpensed' the next year. An 'unexpense' looks like income, a negative expense. And that looks like deficit reduction.

Own that, delusion and you own the rest. And are necessarily overjoyed at what SCOTUS did to Biden student loan forgiveness initiatives.

Because deficit reduction = student loan harshness.

I figure it's all bookkeeping, Then again, for years I kept books. My antecessor left me books that were not even one cent out of balance for a decade; when I let, I grinned ... it was painful, but I could account for every cent for most of a decade.

The CPA commiserated with me over some things, but they weren't *my* probs. And while abhorrent to then-current practice, no laws were violated.

Unlike when I was in grad school and saw faculty playing loose and fancy ... but I wasn't indictable. And to complain would invite penury.