Rep. Vasquez Presses Administration to Return Tariff Taxes to New Mexicans, Not Corporations

WASHINGTON D.C.  – On August 12, 2026, U.S. Representative Gabe Vasquez (NM-02) sent a letter to Treasury Secretary Scott Bessent and U.S. Customs and Border Protection Commissioner Rodney Scott demanding that they push corporations to return the money from the Administration’s illegal tariffs to the consumers who paid for them.

The cost of the President’s tariffs was paid by consumers in the form of higher prices – costing Americans about $1,000 last year. However, corporations that received a refund are not required to provide those refunds back to everyday consumers – effectively stealing money from New Mexico families, who are already under pressure from higher costs as a result of the failing war in Iran. 

“It’s simple: this Administration and the corporations it paid out owe each and every New Mexican $1,000,” said Vasquez.

“More tariffs are the exact opposite of what American families need as they grapple with the cost increases caused by this Administration’s reckless actions, including soaring gas prices due to the war in Iran and skyrocketing healthcare and utility bill costs because of the Republican tax law,” demanded Vasquez in the letter. “The very least your agencies should do is work to ensure that corporations receiving refunds take actions to pass relief to American consumers and stop the reckless tariffs that are continuing to drive up prices.”

Read the full letter HERE.

Since introducing his Affordability Agenda to lower the high cost of living in New Mexico, the Congressman has: 

• Introduced the Tax Relief from Tariffs and High Costs Act to offer a fully refundable 10% tax credit to households making under $100,000 to offset rising prices — under this bill, a New Mexican making $70,000 could expect around $700 back in their pocket to offset higher prices caused by tariffs.
• Cosponsored the Capping Prescription Costs Act, which caps annual prescription drug costs at $2,000 for individuals and $4,000 for families with private health insurance plans. 
• Cosponsored two bills — the Bipartisan Families First Housing Act and the Stop Wall Street Landlords Act — to address New Mexico’s housing affordability crisis by cracking down on greedy, corporate landlords to ensure hardworking New Mexicans have a fair shot at homeownership. 
• Has introduced legislation to roll back harmful cuts to food assistance enacted under the Republican tax law, fighting to feed our veterans, seniors, children, and hardworking families.
• Introduced the Energy Bills Relief Act to bring down utility bills for hardworking New Mexicans by cutting red tape, speeding up permitting processes to get more energy projects online, expanding the Low-Income Home Energy Assistance Program and more. 
• Supported the Tipped Income Protection and Support (TIPS) Act to permanently end tax on tips for those making under $112,500.
• Introduced the Boost the Middle Class Act to increase eligibility for the Earned Income Tax Credit, allowing more working New Mexican families to receive higher tax refunds each year.
• Pushed for the passage of his Keep Mobile Homes Affordable Act, which would crack down on rent price gouging and utilities neglect by predatory investors who have purchased 2,500 or more manufactured housing units since 2015.

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