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And where is this money going? Is it going to be used to directly help companies like Adafruit which are being directly harmed?
by iancmceachern 1y ago
And where is this money going? Is it going to be used to directly help companies like Adafruit which are being directly harmed?
- jacobyoder 1y agoGoing directly in to the Treasury. https://fiscaldata.treasury.gov/static-data/published-reports/dts/DailyTreasuryStatement_20250506.pdf https://fiscaldata.treasury.gov/static-data/published-report... $252 million was collected from excise tariffs on May 6. You can look at this PDF day to day. EDIT: adding on to this... most days are between $150m and $300m. There's been a few days north of $300m this calendar year. There was also one day - April 16? 17th? - with $11.5b coming in. Under 'excise taxes'. I have to assume that was something to do with early April tariff announcements? But haven't seen anything remotely similar since. So this "billions of dollars are pouring in from tariffs!" is... simply not true. There's not been a huge shift one way or the other yet. EDIT 2 - April 22 - https://fiscaldata.treasury.gov/static-data/published-reports/dts/DailyTreasuryStatement_20250422.pdf https://fiscaldata.treasury.gov/static-data/published-report.... $11b in excise taxes deposited.
- ncr100 1y agoAnd used to shore up the budget with the upcoming tax breaks for the wealthy...
- senderista 1y agoA bunch of it will go to bail out US farmers who would otherwise be wiped out.