AP: Trump wants to send Americans money. Congress and economists don’t seem thrilled with the idea
The proposal would cost more than $1 trillion and could worsen inflation, while bond investors and the Federal Reserve warn against it.
- On Wednesday night in Dallas, President Donald Trump promised $5,000 dividend payments to Americans if Republicans hold Congress, proposing to fund the payments through tariff revenue.
- Trump previously pledged $2,000 payments through Department of Government Efficiency savings and tariff revenue, but none materialized; his latest proposal comes as persistent inflation and rising interest rates politically undermine Republicans.
- The $5,000 proposal would cost exceeding $1.3 trillion to pay 270 million Americans, comparable to annual Treasury interest expenses of about $1.27 trillion, raising concerns about inflation and deficits.
- Rep. Thomas Massie, a Kentucky Republican, wrote on social media: "I dont know about you all, but frankly Im insulted by the notion that my vote this November could be bought for 5k." Ohio Sen. Bernie Moreno embraced the idea despite criticism.
- The Treasury runs a $1.8 trillion annual deficit with national debt topping $40 trillion this year. Senior policy director Marc Goldwein said: "We dont have surpluses to give away," emphasizing fiscal constraints.
15 Articles
15 Articles
Ohio Capital Journal
Trump plan to send $5K to every adult projected to cost $1.2T and ‘explode’ the deficit
WASHINGTON — A proposal by President Donald Trump to give $5,000 to each American adult if Republicans retain control of the U.S. House and Senate in November would “explode” the national deficit and worsen inflation, according to an analysis issued Thursday by the nonpartisan Committee for a Responsible Federal Budget. The committee, whose board includes […]
Trump’s proposed $5K dividend to every American raises cost, inflation concerns
President Donald Trump’s proposal to give every American adult a $5,000 dividend if Republicans retain control of Congress is drawing mixed reactions within the GOP, with several lawmakers questioning its cost and potential inflationary effects, The Washington Post reports. Trump announced the proposal at the Republican midterm convention in Dallas, saying the money would have […]
Associated Press News
Trump wants to send Americans money. Congress and economists don't seem thrilled with the idea
Donald Trump’s pitch to send Americans $5,000 checks should Republicans prevail in the November midterms is drawing scorn from some members of Congress — the very people who have constitutional authority over federal spending.
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