Trump makes a familiar promise: $5,000 checks for everyone
President Trump is promising $5,000 checks for every adult U.S. citizen if Republicans retain control of Congress in the upcoming midterm election. Why it matters: He's made similar suggestions before, many times, none of which ever came to pass. It'd also cost more than $1 trillion to fulfill. Driving the news: At Wednesday night's GOP midterm convention , Trump made the unexpected offer. If…
President Trump promised $5,000 checks to every adult U.S. citizen if Republicans maintain control of Congress during the upcoming midterm elections. This declaration, made at the Republican Party's midterm convention on Wednesday night, has been a recurring theme for the president, though none of his previous offers have materialized.
The total cost of such a program would exceed $1 trillion, which would represent a significant increase in federal spending, surpassing 15% of last year's budget of about $7 trillion. Despite concerns from the bond market about rising government spending and deficits, raising yields on U.S. Treasuries, Trump's pledge has quickly gained attention, with the prospect of it being promoted extensively on television if the GOP secures its majority in the 54 days remaining until the midterm elections.
Written by urgent.news from Axios's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
