After Trump says he doesn’t need Congress for his $5,000 ‘dividend,’ House Speaker Mike Johnson says not so fast but vows to try to make it happen

President Donald Trump's proposal to provide every American adult with $5,000, contingent upon his Republican Party retaining control of the House and Senate in the November election, necessitates congressional endorsement, according to House Speaker Mike Johnson. Trump introduced the "Trump Dividend" at the party's midterm convention in Dallas, suggesting voters who maintain GOP dominance would receive the payments.

However, Trump later told CBS News Texas that he did not believe Congress would need to authorize the payments, though he did not elaborate on how he could distribute over $1 trillion without legislative approval. Despite this, Johnson, a Republican from Louisiana, acknowledged that congressional approval would likely be required.

"I would assume, yes, he'd need Congress to act, and that's a creative idea," he stated. Shortly after, Trump affirmed his commitment to delivering on the promise, saying, "The 5,000's going to happen, 100%," before departing for Ireland to attend a pro golf tournament at his resort. Johnson vowed to work towards implementing Trump's proposal through Congress, emphasizing their commitment to finding consensus.

The proposal, which could cost over $1 trillion, poses additional challenges to the country's already strained $1.8 trillion annual budget deficit and inflation concerns. The economy faces persistent inflation and rising interest rates, creating a tough environment for Republicans seeking to retain control of Congress. Trump argues that the payments would be feasible due to the strong economy, but consumer sentiment remains weak as gasoline prices surge due to the Iran conflict and wages struggle to keep up with inflation.

A July poll from The Associated Press-NORC Center for Public Affairs Research indicates that just one-third of U.S. adults approve of Trump's handling of the presidency, down from 42% when he took office. Approval is also low for his handling of the economy and immigration, key issues in Trump's 2024 election campaign. Trump further commented on gasoline prices dropping "like a rock" but did not hint at any imminent deal with Iran to resolve the conflicts and reopen the Strait of Hormuz.