Horsford Demands Corporate Accountability as $175 Billion in Tariff Refunds Hang in the Balance
April 23, 2026
Congressman Horsford presses CEOs of ten major companies to ensure relief reaches consumers and small businesses not corporate bottom lines
WASHINGTON D.C. – Congressman Steven Horsford (NV-04) today led a letter to the heads of ten major companies, calling for transparency and accountability to ensure that looming tariff refunds reach the working families who ultimately paid higher prices at the checkout counter.
The letter was sent to the CEO’s of Walmart, Home Depot, Target, Best Buy, FedEx, Amazon, Lowe’s, Costco, UPS, and DHL. These companies were selected based on analysis of likely top tariff payers that consumers interact with directly, as well as carriers that served as importers of record.
The action follows the Supreme Court’s decision in Learning Resources, Inc. v. Trump, which struck down broad-based tariffs imposed under the International Emergency Economic Powers Act (IEEPA). Although the ruling directs an estimated $175 billion in tariff refunds, there is currently no clear mechanism to ensure that these refunds reach the families and small businesses that ultimately bore the brunt of the cost. Without Congressional action, that gap will persist.
"These illegal tariffs did more than raise prices; they destroyed livelihoods.” Rep. Horsford said. “The individuals hit hardest were not corporations but rather working families and small business owners across this country. In Las Vegas alone, I saw a neighborhood cupcake shop, brewery, and coffee roaster forced to close because their costs skyrocketed because of the reckless tariffs. Those businesses are gone – maybe forever – but the large corporations able to weather Trump’s storm are about to get their money back. Make it make sense.
“Major corporations can absorb these losses. They have the resources to withstand the impact. My focus is making sure these refunds do not simply become additional corporate profit. The people who actually paid these costs deserve to be front and center," Rep. Horsford concluded.
In the letter, Congressman Horsford demands detailed answers to the following questions:
- How did your company account for tariff costs during the IEEPA tariff period? Please provide documentation or data showing whether and to what extent those costs were passed through to consumers, small business suppliers, or other parties in your supply chain.
- What steps, if any, does your company anticipate taking to ensure tariff relief translates into lower prices or other direct benefits for consumers—including price reductions, credits, or other mechanisms—and on what timeline?
- How will your company track and verify whether tariff relief reaches end consumers rather than remaining at the corporate level? Will you commit to not use any payments for executive compensation or stock buybacks?
- Will you commit to publicly report on the distribution of refunds, and if so, in what form and on what timeline?
- If tariff costs were passed down to small business suppliers or vendors in your supply chain, what steps will your company take to ensure those businesses receive proportionate relief?
- If tariff relief is not passed to consumers, what steps will your company take to ensure non-managerial workers benefit from the refund?
14 Members joined Congressman Horsford on the letter. He was joined by Ansari (AZ-03), Bynum (OR-05), Craig (MN-02), DelBene (WA-01), Gomez (CA-34), Ivey (MD-04), Larson (CT-01), Lee (NV-03), Magaziner (RI-02), Holmes Norton (DC-AL), Salinas (OR-06), Sanchez (CA-38), Scholten (MI-03), and Titus (NV-01)
Congressman Horsford has made fighting for working families his central mission in the fight against Trump's illegal tariffs:
- Pressed U.S. Trade Representative Jamieson Greer at the Ways and Means Committee on potential market manipulation and insider trading. [Click Here to learn more.]
- Introduced legislation to guarantee automatic tariff refunds within 90 days, no red tape, no delays. [Click Here to learn more.]
- Led House Democrats in a motion to defeat the previous question and force a direct vote on the RELIEF Act. [Click Here to learn more.]
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Issues:Economy