House Speaker Mike Johnson says Trump’s $5,000 ‘dividend’ needs congressional approval

House Speaker Mike Johnson clarified on Sunday that President Donald Trump's proposal to provide every adult American with a $5,000 "dividend" requires congressional approval. Trump initially floated the idea during his party's midterm convention in Dallas, pledging the payments if his Republican Party retained control of the House and Senate.

While Trump believes Congress might not need to authorize the payments, Johnson emphasized that the proposal would need to be worked through by lawmakers. The plan could potentially cost over $1 trillion, exacerbating budget deficits and inflation concerns. Despite weak consumer sentiment and rising gasoline prices due to the Iran conflict, Trump maintains that the nation's strong economy would make the payments manageable.

Approval ratings for Trump regarding his handling of the presidency, the economy, and immigration have been declining, with only a third of U.S. adults approving of his performance as of July.