Scott Bessent Sidesteps $134 Billion Tariff Refund Question, Calls Corporate Lawsuits 'Ultimate Corporate Welfare'

Rishabh MishraFri, February 27, 2026 at 3:30 AM UTC

0

Treasury Secretary Scott Bessent refused to commit to issuing $134 billion in potential tariff refunds during a post-State of the Union interview, instead framing corporate demands for repayment as a form of government handout.

The Refund Standoff

Following President Donald Trump's 2026 State of the Union address, Bessent addressed the growing legal and financial fallout from a recent Supreme Court ruling that restricted the administration's tariff authorities.

When pressed by NBC News' Kristen Welker on whether the government would return an estimated $134 billion in revenue to impacted companies, Bessent sidestepped the tariff refund question, noting that the matter had been remanded to lower courts.

Don't Miss:

Fast Company Calls It a ‘Groundbreaking Step for the Creator Economy' — Investors Can Still Get In at $0.85/Share

This Energy Storage Company Already Has $185M in Contracts—Shares Are Still Available

“We will follow the ruling of the lower court,” Bessent stated, emphasizing a 42-day waiting period before further action. However, he quickly pivoted to a populist defense of the administration's refusal to pay, suggesting that returning the funds would not benefit the public.

Attacks On ‘Corporate Welfare’

Bessent aimed at major shipping giant FedEx Corp. (NYSE:FDX), which has recently sued the administration for refunds. He challenged the motives of large firms, essentially labeling their pursuit of money as a drain on the Treasury.

“I think all these corporations should come out and tell everyone… how [they are] going to get the money back to the consumers if [they], in fact, passed those costs along,” Bessent said.

Trending: Own the Characters, Not Just the Content: Inside a Fast-Growing Pre-IPO IP Company

In a sharp critique of the legal challenges, he reportedly called corporate lawsuits ‘ultimate corporate welfare’ during his pushback against the business community.

Navigating The Legal Bridge

To maintain economic momentum despite the SCOTUS ruling, Bessent outlined a “bridge” strategy using Section 122 authority for 150 days while the USTR conducts new studies. He asserted that this maneuver would keep tariff income “virtually unchanged” for 2026.

Advertisement

Bessent remained defiant toward critics, maintaining that the administration's primary goal is to “reassure American industry and stop unfair trade practices,” regardless of the mounting legal pressure from the private sector.

See Also: 1.5 Million Users Are Already Working Inside This AI Platform — Investors Can Still Get In

Benchmark Indices Stay Flat In 2026

As of Tuesday’s close, the Dow Jones index rose 1.64% year-to-date, whereas the S&P 500 was 0.46% higher and the Nasdaq Composite index was down 1.60% in 2026.

The SPDR S&P 500 ETF Trust (NYSE:SPY) and Invesco QQQ Trust ETF (NASDAQ:QQQ), which track the S&P 500 index and Nasdaq 100 index, respectively, closed higher on Tuesday. The SPY was up 0.73% at $687.35, while the QQQ advanced 1.07% to $607.82.

Read Next: Own a Stake in California's New Standard for Luxury Behavioral Health

Photo courtesy: Shutterstock

"ACTIVE INVESTORS' SECRET WEAPON" Supercharge Your Stock Market Game with the #1 "news & everything else" trading tool: Benzinga Pro - Click here to start Your 14-Day Trial Now!

Get the latest stock analysis from Benzinga:

APPLE (AAPL): Free Stock Analysis Report

TESLA (TSLA): Free Stock Analysis Report

This article Scott Bessent Sidesteps $134 Billion Tariff Refund Question, Calls Corporate Lawsuits 'Ultimate Corporate Welfare' originally appeared on Benzinga.com

© 2026 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.

Original Article on Source

Source: “AOL Money”