Summary
President Trump plans to send $2,000 checks from tariff revenue, which would cost about $450 billion and slightly boost the economy and jobs. Congress needs to approve the plan, and payments might start in 2026. The move aims to help with an affordability crisis and could influence the 2026 midterm elections.
Key Facts
- The $2,000 checks are part of President Trump's proposal and would cost about $450 billion.
- The checks could give a small boost to the economy and increase employment slightly.
- The plan would use up more than a year's worth of tariff income.
- Congress needs to pass a law to make these payments happen, which is uncertain.
- The checks could be sent out before the 2026 midterm elections.
- The Yale Budget Lab found the checks might increase GDP by 0.3% and employment by 0.15% in 2026.
- Inflation could rise slightly, by less than 0.1%, due to the checks.
- The decision on the plan depends partly on a pending Supreme Court ruling and other Congressional actions.
