The Trump administration appears to be in no hurry to provide an answer—and may even be planning to keep billions of dollars that it owes American businesses. Reasonable minds can differ about whether lawful taxation is “theft”; in this case, however, there’d be no question.
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Scott Lincicome, Nathan Miller, and Alfredo Carrillo Obregon
The Supreme Court’s invalidation of President Trump’s International Emergency Economic Powers Act (IEEPA) tariffs was a welcome rebuke of executive overreach. But as Scott Lincicome wrote for Bloomberg earlier this week, the ruling leaves a huge question unanswered: What happens to the over $170 billion in tariff money that the federal government unlawfully collected from US importers?
