To amend the Internal Revenue Code of 1986 to establish the individual tariff refund credit.

H.R. 7636, introduced on February 20, 2026, by Rep. Mike Thompson (D-CA), would amend the Internal Revenue Code to create an 'individual tariff refund credit.' The credit would be available to eligible individuals if a final court order requires the federal government to repay tariff revenues collected under an unlawfully imposed tariff (defined as one imposed unlawfully after January 20, 2025). The bill has been referred to the House Committee on Ways and Means and has one cosponsor (Rep. Greg Casar, D-TX). It is an early-stage, procedural bill with no explicit funding amount—it authorizes a tax credit mechanism but does not appropriate any funds. The credit amount would be calculated based on the aggregate tariff revenues to be repaid and the number of individuals in a household. Because the credit is triggered only by a court order, its activation is speculative and depends on successful litigation against tariff actions. The bill's legislative path is uncertain; it must pass the House Ways and Means Committee, the full House, the Senate, and be signed by the President. Given the partisan nature of tariff policy and the bill's reliance on judicial action, near-term market impact is negligible. No specific companies or sectors are directly affected; the credit would broadly benefit individual consumers if enacted, but that outcome is distant and contingent.