$80B in illegal tariff refunds
The Treasury Department has paid more than $80 billion in refunds for tariffs that were collected illegally after the Supreme Court struck them down.
Where this was said
Federal Deficit Tops $1.3 Trillion; Tariff Refunds Hit $80 Billion
At 3:17 · chapter starts 2:10
NPR's Scott Horsley delivers a sobering fiscal update: the federal government is more than $1.3 trillion in the red with three months still left in the fiscal year [1] — Scott Horsley "Nine months into the fiscal year, the U.S. is more than $1.3 trillion in the red — and the interest bill alone has already surpassed $1 tri…" 02:07 . Tax collections are up, but spending is growing faster — a gap that shows no sign of closing. The starkest figure is the interest bill: paying the interest on accumulated federal debt has already cost more than $1 trillion this fiscal year alone, a sum that dwarfs nearly every line in the federal budget except Social Security [1] — Scott Horsley "Nine months into the fiscal year, the U.S. is more than $1.3 trillion in the red — and the interest bill alone has already surpassed $1 tri…" 02:07 . Adding to the fiscal pressure, the Supreme Court's decision to strike down the president's most sweeping import tariffs has created a massive refund liability. The Treasury Department has already paid out more than $80 billion to businesses and individuals who were charged tariffs the court later ruled illegal [2] — Scott Horsley "The Supreme Court struck down the president's sweeping import taxes, and now the government is footing an $80 billion refund bill. While th…" 02:37 . The administration is pushing to impose new tariffs to replace the lost revenue, but the financial damage from the old ones is still being reckoned with.
Federal deficit over $1.3 trillion
Nine months into the fiscal year, the federal government is more than $1.3 trillion in the red.
Interest on debt over $1 trillion
Just paying interest on accumulated federal debt has cost more than $1 trillion in the last nine months — more than nearly any other single government program except Social Security.
Supreme Court Kills Tariffs — But the Bill Is $80 Billion
The Supreme Court struck down the president's sweeping import taxes, and now the government is footing an $80 billion refund bill. While the administration scrambles to impose new tariffs, the fiscal fallout from the old ones is still being tallied.
Iran Fires Back: Missiles Over Bahrain, Tankers Attacked
After a third consecutive night of U.S. military strikes on Iran, Tehran is hitting back hard. Bahrain's missile alert system went off for a third time, and Iran targeted two UAE-linked tankers, killing one person and wounding eight others. The region is on edge.
Rubio targets ICC
Secretary of State Marco Rubio announced a campaign to dismantle the International Criminal Court, calling it a threat to U.S. sovereignty.
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