,,ii #aafth ,,congress #ast ,session ,s4 #beea ,,in ,,the ,,senate ,,of ,,the ,,united ,,states ,september #bf1 #bjai ,mr4 ,cotton introduced the following bill2 which was read twice and referred to the ,committee on ,finance ,a ,,bill ,to establish the ,tariff ,rebate ,program to disburse revenues from tariffs back to the ,american people4 #a4 ,short title ,this ,act may be cited as the ,tariff ,rebate ,act4 #b4 ,findings ,congress finds the following3 7#a7 ,the ,chinese ,communist ,party has exploited its trading relationship with the ,united ,states at the expense of ,american workers and industries1 including industries critical to our national security such as steel and aluminum4 7#b7 ,tariffs serve various strategic purposes for the ,united ,states1 but they also impose costs on ,americans by raising the price of consumer goods and other imports4 7#c7 ,american families share the burden of tariffs1 so they should share in the revenue raised from tariffs as well4 7#d7 ,distributing tariff revenues as a rebate to taxpayers will help ,americans stand united as we use trade barriers to accomplish important national objectives4 #c4 ,tariff ,rebate ,program 7a7 ,in general ,subject to subsection 7e71 the ,secretary of the ,treasury or the ,secretary's delegate 7referred to in this section as the ,secretary7 shall establish and implement the ,tariff ,rebate ,program to-- 7#a7 determine the total amount collected pursuant to duties imposed under sections #bja and #cja of the ,trade ,act of #aigd 7#ai ,u4,s4,c4 #bbea and #bdaa7 and section #bcb of the ,trade ,expansion ,act of #aifb 7#ai ,u4,s4,c4 #ahfb7 during #bjai and each calendar year thereafter2 7#b7 determine the number of eligible individuals that have filed a ,federal income tax return for the taxable year ending with or within the applicable calendar year under paragraph 7#a72 and 7#c7 disburse a payment equal to the applicable amount to each such eligible individual4 7b7 ,eligible individual 7#a7 ,in general ,except as provided under subsection 7e71 for purposes of this section1 the term eligible individual means an individual who1 with respect to any taxable year ending with or within a calendar year1 has-- 7,a7 filed a ,federal income tax return not later than ,october #ae of the succeeding calendar year2 and 7,b7 taxable income of not greater than-- 7i7 in the case of any taxpayer filing a joint return for such taxable year1 #afh1djj2 or 7ii7 in the case of any taxpayer not filing a joint return for such taxable year1 #hd1bjj4 7#b7 ,exception ,the term eligible individual shall not include1 with respect to any taxable year ending with or within a calendar year-- 7,a7 any estate or trust2 7,b7 any nonresident alien individual or any alien who is not authorized for employment in the ,united ,states2 or 7,c7 any individual who is a dependent for whom a deduction is allowable under section #aea to another taxpayer for such taxable year4 7#c7 ,inflation adjustment ,in the case of any taxable year beginning after #bjai1 each dollar amount referred to in paragraph 7#a77;,b7 shall be increased by an amount equal to-- 7,a7 such dollar amount2 multiplied by 7,b7 the cost-of-living adjustment determined under section 7#a77;f77#c7 of the ,internal ,revenue ,code of #aihf for the calendar year in which the taxable year begins1 by substituting #bjah for #bjaf in subparagraph 7,a77ii7 thereof4 7c7 ,applicable amount 7#a7 ,in general ,except as provided under subsection 7e71 for purposes of this section1 the applicable amount shall be an amount equal to the quotient obtained by dividing-- 7,a7 the amount described in subsection 7a77#a7 for the applicable calendar year2 by 7,b7 an amount equal to the number of eligible individuals that have filed a ,federal income tax return for the taxable year ending with or within such applicable calendar year4 7#b7 ,rounding ,any amount determined under paragraph 7#a7 shall be rounded down to the next whole dollar amount4 7d7 ,timing of payment ,for purposes of subsection 7a77#c71 the ,secretary shall disburse such payment as rapidly as possible following the determination of the applicable amount for the calendar year4 7e7 ,special rebate for tax year #bjah 7#a7 ,in general ,not later than #ij days after the date of enactment of this ,act1 the ,secretary shall-- 7,a7 determine the total amount collected pursuant to duties imposed under sections #bja and #cja of the ,trade ,act of #aigd and section #bcb of the ,trade ,expansion ,act of #aifb during calendar years #bjag and #bjah2 7,b7 determine the number of eligible individuals that have filed a ,federal income tax return for the taxable year ending with or within calendar year #bjah2 and 7,c7 disburse a payment equal to the applicable amount to each such eligible individual4 7#b7 ,eligible individual ,for purposes of this subsection1 the term eligible individual has the same meaning given such term under subsection 7b71 except that paragraph 7#a77;,b7 of such subsection shall be applied-- 7,a7 in clause 7i7 of such paragraph1 by substituting #afe1jjj for #afh1djj2 and 7,b7 in clause 7ii7 of such paragraph1 by substituting #hb1ejj for #hd1bjj4 7#c7 ,applicable amount 7,a7 ,in general ,for purposes of this subsection1 the applicable amount shall be an amount equal to the quotient obtained by dividing-- 7i7 the amount described in paragraph 7#a77;,a72 by 7ii7 an amount equal to the number of eligible individuals that have filed a ,federal income tax return for the taxable year ending with or within calendar year #bjah4 7,b7 ,rounding ,any amount determined under subparagraph 7,a7 shall be rounded down to the next whole dollar amount4 7f7 ,tariff ,rebate ,fund 7#a7 ,establishment of ,fund ,there is established in the ,treasury a fund to be known as the ,tariff ,rebate ,fund1 consisting of such amounts as may be transferred to the fund pursuant to paragraph 7#b71 to remain available until expended4 7#b7 ,transfers to ,fund ,the ,secretary shall transfer to the ,tariff ,rebate ,fund from the general fund of the ,treasury an amount equivalent to the amount of duties collected after ,december #ca1 #bjaf1 and imposed pursuant to sections #bja and #cja of the ,trade ,act of #aigd and section #bcb of the ,trade ,expansion ,act of #aifb4 7#c7 ,availability of funds ,amounts in the ,tariff ,rebate ,fund shall be available to the ,secretary1 without further appropriation1 to carry out the ,tariff ,rebate ,program 7including any provisions under subsection 7e774