Trump promises a $5,000 check!
U.S. President Trump said that if the Republicans keep a majority in Congress after the midterm elections, they will pay Americans a $5,000 dividend.
U.S. President Donald Trump, in a statement made in front of Air Force One, said that the country earns 'trillions of dollars' and that the $5,000 payments would be '100% realized'.
The president argued that the payments would be made if Republicans maintain control of Congress, and that the plan could not be implemented if Democrats gained a majority.
Trade Secretary Howard Lutnick said the payments would not be funded by taxpayers' money or the budget deficit, while National Economic Council Director Kevin Hassett said the payments could be implemented through a budget reconciliation package approved by Congress.
Discussion of a $1.3 trillion cost.
It is estimated that if $5,000 payments were made to about 270 million adults, the total cost could reach $1.3 trillion.
While the plan's financing through tariff revenues has been raised, experts say that current tariff revenues would not be sufficient to cover the amount. Some Republicans also expressed doubts about the plan's high cost and inflation risk.
No law has yet been passed by Congress for the $5,000 payments announced by Trump.
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