RM Markey: Trump administration must refund small businesses now
Small businesses paid an estimated more than $70 billion in Trump tariffs from March to December 2025
(Washington, February 20) – Ranking Member Edward J. Markey (D-Mass.) today applauded the Supreme Court decision ruling that President Trump lacked authority to impose tariffs under the International Emergency Economic Powers Act (IEEPA). Small businesses have paid an estimated more than $70 billion in tariffs from March to December 2025, including an estimated $734 million paid by Massachusetts small businesses.
“This case was Small Businesses v. Trump, and small businesses won,” said Ranking Member Markey. “While big businesses ducked the fight, relying instead on golden gifts and Mar-a-lago memberships to provide access and exemptions, small businesses took on this fight to end the pain on Main Street. Trump bet his economic agenda on an illegal power grab and lost. It is a moral obligation for this administration to return every last cent taken from small businesses by this illegal tax.”
Ranking Member Markey has led the fight to deliver real relief for America’s small businesses that are struggling because of Trump’s reckless economic policies.
- Earlier in February 2026, Ranking Member Markey released a report detailing how Trump’s affordability crisis, including his devastating tariffs, are hurting Main Streets and working families across America.
- In December 2025, Ranking Member Markey released new state-by-state data on total tariffs paid by small businesses from March to September 2025.
- In November 2025, Ranking Member Markey sent a letter to Small Business Administration (SBA) Administrator Kelly Loeffler, Secretary of Commerce Howard Lutnick, U.S. Trade Representative Jamieson Greer, and Acting Chair of the Council of Economic Advisors (CEA) Pierre Yared to renew his call for an equitable tariff refund process for small businesses.
- Earlier in November 2025, Ranking Member Markey held a press conference to highlight the voices of small business owners impacted by Trump’s devastating tariffs, and to call on the Supreme Court to strike down the tariffs.
- Previously, Ranking Member Markey held a press conference to highlight the voices of small business owners impacted by Trump’s tariffs. Ranking Member Markey introduced the Small Business RELIEF Act in September 2025, which exempts small businesses from the “Liberation Day” tariffs and requires the President to provide refunds to small businesses who have paid them.
- In August 2025, Ranking Member Markey sent a letter to Small Business Administration (SBA) Administrator Kelly Loeffler, Secretary of Commerce Howard Lutnick, U.S. Trade Representative Jamieson Greer, and CEA Chair Stephen Miran, calling on their respective agencies to establish and publicize procedures for refunding tariffs to American businesses.
- Ranking Member Markey first attempted to pass the Small Business Liberation Act, legislation that would exempt small businesses from the broad, reckless global tariffs imposed by the Trump administration, in May 2025. Ranking Member Markey returned to the Senate floor in an effort to pass the Small Business Liberation Act in August 2025. Republicans blocked his legislation on the Senate floor on both occasions.
