UPDATE: President Donald Trump has just announced a bold proposal to send $2,000 checks to Americans, funded by revenue from tariffs, as he seeks to rally support amid alarming disapproval ratings. In a post shared on Sunday afternoon, Trump declared, “A dividend of at least $2000 a person (not including high-income people!) will be paid to everyone.”
Trump’s statement comes as his disapproval rating has soared to 63%, according to a recent CNN/SSRS poll conducted from October 27 to 30. This proposal is not a new concept for Trump; he has previously suggested similar plans during his presidency, though none have materialized.
The proposed checks are tied to the substantial revenue generated from tariffs imposed on global trading partners. Currently, American consumers face an average effective tariff rate of nearly 18%, the highest in almost a century. Since Trump initiated these sweeping tariffs in April, the U.S. has collected close to $200 billion in customs duties, significantly impacting consumer prices.
While the notion of distributing checks has been floated, it would require approval from Congress. In a related effort, Republican Senator Josh Hawley introduced a bill earlier this year that aimed to provide a $600 check using tariff rebates. However, Treasury Secretary Scott Bessent indicated that the tariff collections would instead be allocated to reducing the national deficit.
Experts are raising concerns regarding the feasibility of Trump’s plan. Erica York, vice president of federal tax policy at the Tax Foundation, stated on X that the projected cost of $2,000 checks could exceed the actual revenue from tariffs. “If the cutoff is $100,000, 150M adults would qualify, for a cost near $300 billion,” she explained, emphasizing that the financial implications could be dire.
Amid these developments, Trump insists that the U.S. is thriving, claiming, “We are now the Richest, Most Respected Country In the World, With Almost No Inflation, and A Record Stock Market Price.” He highlights the growth in investments and job creation across the nation, as factories and plants emerge in various locations.
As this situation unfolds, Americans are left wondering whether these proposed checks will materialize or remain a political talking point. The urgency of this proposal, combined with Trump’s declining popularity, makes it a critical issue to watch in the coming days.
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