(NewsNation) — President Donald Trump recently floated giving $2,000 to most Americans from tariff revenue collected by the administration.
Trump made the proposal on social media Sunday and added that those who are against tariffs are “fools.”
The idea isn’t a new concept. Sen. Josh Hawley, R-Mo., introduced legislation in July that would give $600 tariff rebates to nearly all Americans and their dependent children to “allow hard-working Americans to benefit from the wealth that Trump’s tariffs are returning to this country.”
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Here is what to know about the latest proposal:
What has Trump said about tariff checks?
In addition to the $2,000 rebates, Trump suggested the tariff revenue could also be used to pay down the country’s debt, which, according to the U.S. Treasury, is at nearly $38.12 trillion.
In October, Trump announced his administration was considering sending checks ranging from $1,000 to $2,000.
“We’ll pay back debt, but we also might make a distribution to the people, almost like a dividend to the people of America,” Trump said.
Treasury Secretary Scott Bessent told ABC News on Sunday he had not spoken to the president about the proposal, but that the dividend could come in “lots of forms, in lots of ways” — not necessarily in the form of stimulus checks.
“It could be just the tax decreases that we are seeing on the president’s agenda,” Bessent said. “No tax on tips, no tax on overtime, no tax on Social Security. Deductibility of auto loans.”
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Who would qualify for tariff rebates?
Trump did not clarify who would qualify for the checks, but wrote that “everyone,” except “high-income people,” would be paid at least $2,000.
The administration did not offer additional details on the proposal, which would likely need congressional approval.
According to its September statement, the Treasury Department had collected $195 billion from tariff duties.
