Latest news with #rebates
Washington Post
15 hours ago
- Business
- Washington Post
GOP senators reject Trump's pitch to use tariff revenue for ‘rebates'
President Donald Trump has discussed using revenue from new tariffs to send 'rebates' to Americans — but Republicans in the Senate aren't leaping at the idea. The U.S. government has taken in more than $93 billion from tariffs through mid-July, and most GOP lawmakers want to put all of that toward reducing the national debt, which is over $36 trillion. The debt is expected to grow by another $3.4 trillion over the next decade due to Republicans' sweeping tax and immigration bill, enacted this month.
Daily Mail
a day ago
- Business
- Daily Mail
How families could get $2,400 rebate checks from Trump's tariffs
American families could see up to $2,400 in rebates from President Donald Trump 's tariffs under a new proposal from Republican Senator Josh Hawley. Hawley, a Republican from Missouri , proposed legislation on Monday to provide tariff rebate checks to families similar to the stimulus checks the government distributed during the COVID pandemic. The amount received varies by family but typically includes at least $600 per adult and child, totaling $2,400 for a family of four. Trump has expressed his support for the idea. 'We're thinking about a little rebate,' he told reporters last week. 'But the big thing we want to do is pay down debt. But we're thinking about a rebate.' Hawley moved forward with his American Worker Rebate Act after Trump's comments. 'Like President Trump proposed, my legislation would allow hard-working Americans to benefit from the wealth that Trump's tariffs are returning to this country,' he said in a statement. The proposal comes as the federal government's coffers have risen with the president's tariff deals. The Treasury Department announced that through July, tariffs brought in about $28 billion. That's about $1 billion higher than all of June's tariff revenue, and brings the total revenue generated by duties for the year to about $150 billion. Tariffs are a tax imposed by foreign nations, paid by domestic companies that import goods or services. So far most companies are absorbing the increased costs instead of passing them on to the consumer. However, prices could still rise. Hawley's program, which still needs to be passed by Congress, would be set up as a refundable tax credit, with the government sending checks this year should it become law. And there is flexibility in the proposal depending on a person's income levels. For example, the bill would reduce the rebate by 5% for joint filers who have adjusted gross income in excess of $150,000, a head of household whose income exceeds $112,500 and an individual taxpayer whose income exceeds $75,000. Meanwhile, President Trump said that he will not extend Friday's deadline for his 'reciprocal' tariffs on dozens of countries to restart. 'The August first deadline is the August first deadline,' he wrote on Truth Social Wednesday morning. 'It stands strong and will not be extended.' He followed that up with a post announcing his administration will impose a 25% tariff on goods from India, plus a 'penalty' for buying military gear and energy from Russia. Trump has previously said he would not extend his deadline on reciprocal tariffs and then going on to extend it. In early April, Trump announced a 10% blanket tariff rate, along with higher individualized rates of up to 50% for dozens of countries. In the ensuing stock market panic, he paused them for 90 days, which would have seen them restart on July 9. Then he initiated another pause until August 1. Trump has been signing deals with countries in the run-up to Friday's deadline.
Daily Mail
a day ago
- Business
- Daily Mail
How American families could get $2,400 rebate checks from Trump's tariffs
American families could see up to $2,400 in rebates from President Donald Trump 's tariffs under a new proposal from Republican Senator Josh Hawley. Hawley, a Republican from Missouri, proposed legislation on Monday to provide tariff rebate checks to families similar to the stimulus checks the government distributed during the COVID pandemic. The amount received varies by family but typically includes at least $600 per adult and child, totaling $2,400 for a family of four. Trump has expressed his support for the idea. 'We're thinking about a little rebate,' he told reporters last week. 'But the big thing we want to do is pay down debt. But we're thinking about a rebate.' Hawley moved forward with his American Worker Rebate Act after Trump's comments. 'Like President Trump proposed, my legislation would allow hard-working Americans to benefit from the wealth that Trump's tariffs are returning to this country,' he said in a statement. The proposal comes as the federal government's coffers have risen with the president's tariff deals. The Treasury Department announced that through July, tariffs brought in about $28 billion. That's about $1 billion higher than all of June's tariff revenue, and brings the total revenue generated by duties for the year to about $150 billion. Tariffs are a tax imposed by foreign nations, paid by domestic companies that import goods or services. So far most companies are absorbing the increased costs instead of passing them on to the consumer. However, prices could still rise. Hawley's program, which still needs to be passed by Congress, would be set up as a refundable tax credit, with the government sending checks this year should it become law. And there is flexibility in the proposal depending on a person's income levels. For example, the bill would reduce the rebate by 5% for joint filers who have adjusted gross income in excess of $150,000, a head of household whose income exceeds $112,500 and an individual taxpayer whose income exceeds $75,000. Meanwhile, President Trump said that he will not extend Friday's deadline for his 'reciprocal' tariffs on dozens of countries to restart. 'The August first deadline is the August first deadline,' he wrote on Truth Social Wednesday morning. 'It stands strong and will not be extended.' He followed that up with a post announcing his administration will impose a 25% tariff on goods from India, plus a 'penalty' for buying military gear and energy from Russia. Trump has previously said he would not extend his deadline on reciprocal tariffs and then going on to extend it. In early April, Trump announced a 10% blanket tariff rate, along with higher individualized rates of up to 50% for dozens of countries. In the ensuing stock market panic, he paused them for 90 days, which would have seen them restart on July 9. Then he initiated another pause until August 1. Trump has been signing deals with countries in the runup to Friday's deadline. In Scotland this past weekend he came to a trade agreement with the European Union. It gives the EU a 15% tariff across the board. The president called it 'the biggest deal ever made.'
Globe and Mail
24-07-2025
- Business
- Globe and Mail
WEX® and bp Partner on earnify™fleet Fuel Card Program
WEX ® (NYSE: WEX), the global commerce platform that simplifies the business of running a business, announced a new partnership with energy leader bp to provide fleet drivers access to fuel savings through the earnify ™ fleet fuel card program in the U.S. Moving forward, earnify ™ fleet cards can be used for fuel and vehicle-related purchases at merchants that accept WEX and Mastercard ® with on-going fuel rebates available at over 8,000 stations across the bp family of brands. Designed for small businesses and large fleets, this partnership will expand the program's valuable fuel rebates to bp, Amoco, TravelCenters of America, TA Express, and Petro stations across the country. This press release features multimedia. View the full release here: 'With the earnify ™ fleet card, we're combining WEX's leading payments technology with bp's robust fueling network to give fleets a smarter, more efficient way to manage operations,' said Brian Fournier, Americas SVP & GM, Mobility at WEX. 'From real-time controls to detailed data insights and fraud protection, this program demonstrates how WEX technology is driving the next generation of fleet payment innovation.' Drivers can use their earnify ™ fleet card to pay for parts and service, tolls, car washes, parking, and roadside assistance. With all of these options available on one card, this simplified solution can also be utilized for integrated reporting and invoicing. Business owners and fleet operators can set purchase controls on employee spending based on product type, dollar amount, time of day, and more. The cards come with EMV chip technology, giving businesses extra protection from fraud. earnify ™ fleet drivers can sign up for the earnify ™ rewards program and earn personal loyalty points when they fuel for work at participating locations. This added benefit is designed to enhance earnify ™ fleet driver satisfaction and encourage in-network fueling, benefiting both drivers and fleet managers. 'We're excited to expand our long-standing relationship with WEX as we launch the earnify ™ fleet card,' said Debi Boffa, CEO of TravelCenters of Americas and bp VP of Fleet Mobility. 'By creating a new card program that brings together all of our fuel brands — bp, Amoco, TA, Petro, and TA Express — we're making it easier than ever for fleet customers of all sizes to fuel, save, and stay loyal across our entire network.' The combined power of WEX and Mastercard satisfies customer needs for more comprehensive coverage and greater purchasing power by offering expanded Mastercard acceptance for a range of vehicle-related expenses, all through one-card convenience. 'We're delighted to collaborate with WEX and bp to launch this next-generation fleet card offer,' said Mark Aquilina, SVP, Corporate Solutions and B2B Transportation at Mastercard. 'Mastercard's purchasing capabilities, security, and added convenience will help deliver even more value for commercial customers and we look forward to the impact this program will have on fleets across the country.' About WEX WEX (NYSE: WEX) is the global commerce platform that simplifies the business of running a business. WEX has created a powerful ecosystem that offers seamlessly embedded, personalized solutions for its customers around the world. Through its rich data and specialized expertise in simplifying benefits, reimagining mobility, and paying and getting paid, WEX aims to make it easy for companies to overcome complexity and reach their full potential. For more information, please visit Forward-Looking Statements This press release contains forward-looking statements including, but not limited to, statements regarding the expected benefits resulting from the Company's new partnership with bp relating to the earnify ™ fleet fuel card program in the U.S. Any statements in this press release that are not statements of historical facts are forward-looking statements. When used in this press release, the words 'anticipate,' 'believe,' 'continue,' 'could,' 'estimate,' 'expect,' 'intend,' 'may,' 'plan,' 'project,' 'will,' 'positions,' 'confidence,' and similar expressions are intended to identify forward-looking statements, although not all forward-looking statements contain such words. Forward-looking statements relate to our future plans, objectives, expectations, and intentions and are not historical facts and accordingly involve known and unknown risks and uncertainties and other factors that may cause the actual results or performance to be materially different from future results or performance expressed or implied by these forward-looking statements, including the ability of the Company and its customers to realize the expected benefits Company's new partnership with bp relating to the earnify ™ fleet fuel card program in the U.S. and the Company's ability to successfully convert the existing BP portfolio to the WEX platform; as well as other risks and uncertainties identified in Item 1A of our Annual Report on Form 10-K for the year ended December 31, 2024, filed with the Securities and Exchange Commission on February 20, 2025, and Quarterly Report on Form 10-Q for the quarter ended March 31, 2025, filed with the Securities and Exchange Commission on May 1, 2025 and subsequent filings with the Securities and Exchange Commission. The forward-looking statements speak only as of the date of this press release and undue reliance should not be placed on these statements. The Company disclaims any obligation to update any forward-looking statements as a result of new information, future events, or otherwise.
CBC
18-07-2025
- Business
- CBC
Heat pump rebate applications in jeopardy after installer's certification suspended
Some customers are seeing red after FortisBC began denying applications for heat pump rebates because the company that installed them had its certification temporarily suspended. The rebates total about $1.5 million. As Jon Hernandez reports, the HVAC company is blaming a communication error for the confusion.
