The legislation would almost certainly lead to a higher cost of living in the form of substantial tax increases.
Opinion

A Note on Tariff Refunds

Thanks to our victory in the tariff case before the Supreme Court, businesses that paid billions of dollars in illegally collected tariffs can seek refunds. But the process may be difficult.
The new tariff will be implemented under a 1974 law that gives the president authority to impose tariffs for up to 150 days.
"My dissenting colleagues have defended the major questions doctrine in the past," Justice Neil Gorsuch observed.
There are many laws that explicitly authorize the president to impose taxes on imports, but they include limits that Trump ...
An excerpt from his Executive Functions post today; note that his and Curtis Bradley's Foreign Affairs, Nondelegation, and the Major ...
NA Today, the Supreme Court decided our case challenging Donald Trump's massive IEEPA tariffs. In a 6-3 decision, Court ...
"There is no exception to the major questions doctrine for emergency statutes," wrote Chief Justice John Roberts.