We have received text from S. 5390: End Trump’s Tariff Tax Act. This bill was received on 2026-09-14, and currently has 29 cosponsors.
Here is a short summary of the bill:
This bill would end and reverse certain U.S. tariffs that were imposed by the President under three specific authorities:
- duties tied to investigations about foreign countries’ failure to ban imports made with forced labor;
- duties imposed under section 122 of the Trade Act of 1974 , which gives the President authority to address balance-of-payments problems through import restrictions; and
- duties imposed under section 338 of the Tariff Act of 1930 , which allows tariffs in response to discrimination by foreign countries against U.S. commerce.
In practical terms, the bill would make those tariffs stop having legal effect once the bill is enacted, including tariffs already in place under those authorities.
The bill would also require U.S. Customs and Border Protection to automatically refund, with interest, duties that were collected under those tariff authorities during specified time periods. Importers would not have to file a special request or provide documentation to get the refund. If an imported item was already finalized in customs, the agency would have to reopen and recalculate the entry if needed to issue the refund. The bill says refunds should be prioritized for small businesses when possible.
The bill includes specific dates for when the changes would take effect:
- for the balance-of-payments authority and the discrimination-based tariff authority, the repeal would take effect on August 1, 2026;
- for the forced-labor-related duties described in the bill, the tariffs would lose effect on the date the bill is enacted; and
- refunds would cover duties collected during the time windows stated in the bill, depending on which authority was used.
Relevant Companies
- None found
Senator Charles E. Schumer Bill Proposals
Here are some bills which have recently been proposed by Senator Charles E. Schumer:
- S.5390: End Trump’s Tariff Tax Act
- S.5323: A bill to designate a building of the Chancery of the United States in Pristina, Kosovo, as the "Elliot L. Engel Building".
- S.5212: No Payoffs for Pardons Act
- S.5183: Anti-Corruption Bureau Creation Act
- S.4796: Stock Buyback Accountability Act of 2026
- S.4791: A bill to abolish the Anti-Weaponization Fund, and for other purposes.
You can track bills proposed by Senator Charles E. Schumer on Quiver Quantitative's politician page for Schumer.
Senator Charles E. Schumer Net Worth
Quiver Quantitative estimates that Senator Charles E. Schumer is worth $2.0M, as of September 19th, 2026. This is the 272nd highest net worth in Congress, per our live estimates.
Schumer has approximately $0 invested in publicly traded assets which Quiver is able to track live.
You can track Senator Charles E. Schumer's net worth on Quiver Quantitative's politician page for Schumer.
2028 New York US Senate Election
There has been approximately $7,724,579 of spending in New York US Senate elections over the last two years, per our estimates.
Approximately $59,448 of this has been from outside spending by PACs and Super PACs.
You can track this election on our matchup page for the 2028 New York US Senate election.
This article is not financial advice. See Quiver Quantitative's disclaimers for more information.
