Is Trump's $5,000 'dividend' legal and how would it work?
President Donald Trump on Wednesday proposed a $5,000 "Trump dividend" payment to U.S. adults if his Republicans retain control of the House of Representatives and the Senate in the November 3 midterm elections. Here is what we know about Trump's pledge: Who would get the money and where would it come from? Trump said the checks would go to all adult U.S. citizens -- about 240 million people,…
President Donald Trump suggested on Wednesday that he would provide a $5,000 dividend payment to every U.S. adult citizen if his party maintains control of both the House of Representatives and the Senate during the upcoming midterm elections. This proposal would involve sending checks to approximately 240 million people, resulting in a total expenditure of $1.2 trillion.
During a speech following Trump's announcement, Vice President JD Vance speculated that the government could rely on tariff revenue generated by Trump's trade policies to finance the giveaway. However, the Congressional Budget Office (CBO) has pointed out that the government has only collected $167 billion so far in the fiscal year, which is far short of the required funds.
The CBO projects that the government's budget deficit will continue to grow significantly, estimating that spending will exceed revenue by $2.1 trillion in the current fiscal year.
Written by urgent.news from The Korea Times's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
