NY Gov. Kathy Hochul demands $13.5B in tariff refunds after Supreme Court Trump ruling

New York Governor Kathy Hochul is calling for $13.5 billion in tariff refunds for New Yorkers in the wake of the Supreme Court’s recent decision to overturn a significant portion of President Trump’s import taxes.

Hochul stated that the tariffs imposed by Trump last year cost New York households an average of $1,751 each, totaling $13.5 billion statewide, as per a study from the Yale Budget Lab.

“These unjust and unlawful tariffs were essentially a tax on New York consumers, small businesses, and farmers, which is why I am demanding a complete refund,” Hochul announced in a press release.

“I will continue to advocate for New Yorkers, focusing on returning more money to your pockets rather than taking it away.”

The New York State Republican Party has not yet responded to requests for comment from The Post.

While it is improbable that consumers will receive tariff refunds, numerous companies have already initiated lawsuits against the US government to reclaim their import tax payments.

On Tuesday, Trump imposed a broad 10% tariff on global imports, with intentions to raise it to 15%.

Hochul’s office has not provided immediate clarification on whether New York consumers can expect refunds or the possible form they may take.

In January, Hochul introduced a plan for $30 million in tariff relief for New York farmers.

The governor reiterated the harmful effects of tariffs on farmers, pointing out that the majority of agricultural chemical and farm machinery imports are subject to tariffs of 10% or more.

According to the governor’s press release, farmers across the state are experiencing increased costs for fertilizers and equipment, with some spending an additional $20,000 annually.

Last week, the Supreme Court disrupted Trump’s trade agenda with a 6-3 ruling that invalidated his anti-fentanyl and “reciprocal” tariffs, stating that he exceeded his presidential authority by enacting levies under the International Emergency Economic Powers Act, citing national emergencies related to trade imbalances and drug trafficking.

The decision jeopardized an estimated $175 billion in tariff revenue already collected over the past year and complicated Trump’s trade deals with major partners.

It also cast doubt on Trump’s pledge to distribute $2,000 “tariff dividend” checks to most Americans by the upcoming midterm elections.

Allocating $2,000 to low- and middle-income Americans could cost up to $600 billion, twice the anticipated revenue from all of Trump’s tariffs, including those overturned by the Supreme Court, according to the Committee for a Responsible Federal Budget.

While some of Trump’s tariffs, such as those on steel, aluminum, and furniture, will remain in effect, the revenue from these taxes will not be sufficient to offset the losses from the tariffs annulled by the Supreme Court.

Justice Brett Kavanaugh, in his dissent last week, highlighted the significant implications of the ruling, particularly concerning tariff refunds, acknowledging that the process may be challenging.

“The Court does not address today whether, and if so how, the Government should proceed with returning the billions of dollars it has collected from importers,” he wrote. “However, this process is likely to be messy, as was acknowledged during oral arguments.”