Martin Heinrich bill would give tax rebate for tariffs

Sen. Martin Heinrich, D-N.M., introduced a bill Thursday to create a new tax rebate for individuals and families hit by the cost of President Donald Trump’s now-defunct reciprocal tariffs. The bill, dubbed the “Tariff Refunds for Working Families Act” and shared exclusively with CNBC, is part of the escalating effort by Democrats to capitalize on Trump’s tariff agenda ahead of the 2026 midterm elections. Polls indicate the levies have become increasingly unpopular, with economically anxious voters expressing concern about affordability as Democrats vie to rip control of Congress away from Republicans. “The President may call the affordability crisis a ‘hoax,’…