This bill, known as the "Lowering Input Costs for American Farmers Act," aims to reduce agricultural input costs by addressing duties on phosphate fertilizers. It specifically prohibits the imposition of any new duties on phosphate fertilizers imported from the Kingdom of Morocco under sections 122 or 301 of the Trade Act of 1974, effective seven days after enactment. Furthermore, the legislation mandates the revocation of existing countervailing duty orders that were issued on April 7, 2021, for phosphate fertilizers imported from Morocco, effective four business days after enactment. The Secretary of Commerce is directed to ensure that no further duties or cash deposits are collected, with an exception for duties from already completed administrative reviews. Additionally, U.S. Customs and Border Protection must refund eligible cash deposits paid by importers within 90 days of the bill's enactment, providing financial relief to agricultural businesses.