Taxes wouldn’t fund $5,000 Trump ‘dividend’ if Republicans win midterms, says commerce secretary
Summary
President Donald Trump proposed giving every US adult a $5,000 payment, called the "Trump dividend," if Republicans control Congress after the midterm elections. The US commerce secretary said this money would not come from taxes or the government deficit but from other sources like visa fees and tariff revenues.Key Facts
- President Trump announced a plan to give $5,000 to all US adults if Republicans win the midterm elections.
- The payment could cost up to $1 trillion if given to all Americans.
- Commerce Secretary Howard Lutnick said the money would not come from tax revenues or increase the deficit.
- Possible funding sources include charging wealthy foreign visitors up to $5 million for visa extensions and revenue from tariffs.
- The US government invested $8.9 billion in Intel, which has increased in value, as an example of other income sources.
- Critics point out that the US national debt has grown to over $40 trillion, raising concerns about new spending.
- Some officials mention using a special Congressional process called "reconciliation" to fund the payments.
- An Associated Press poll shows only 32% of US adults approve of President Trump's economic management.
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