Summary
President Donald Trump announced plans to distribute $2,000 checks to Americans, claiming they will be funded by revenue from tariffs. Trump suggested these checks could be sent by the end of the year without needing Congress's approval. However, experts doubt this plan due to the high amount of money needed and the potential impact on inflation.
Key Facts
- President Trump plans to send $2,000 checks to lower- and middle-income Americans.
- These payments are proposed to be funded by revenue from tariffs introduced by Trump's administration.
- Trump mentioned the checks could be distributed by the end of the year without congressional approval.
- The Treasury Department reported collecting $195 billion in customs duties recently.
- Experts believe the scheme might cost $300 billion or more, exceeding current tariff revenues.
- There are concerns that the checks could increase inflation, which is already high.
- The legality of Trump's tariffs is being reviewed by the Supreme Court.
