$2,000 Checks Are Being Promised To Americans Due To Tariffs, But What Are Folks Saying? – Blavity
Donald Trump is promising to give Americans $2,000 from the tariffs his administration collected.
“A dividend of at $2000 a person (not including high income people!) will be paid to everyone,” Trump said on his social media platform, per The Hill.
The President also took shots at his critics, saying that people are fools for opposing his tariffs.
How can Donald Trump give $2,000 to Americans?
Although Trump announced his plan to give away $2.000 to Americans, such a move would have to be approved by Congress.
In a statement released in September, the Treasury Department said it has brought in $195 billion from tariffs. Still, customers are also facing higher prices as companies raise the price of their goods due to tariff costs. The Hill reported.
Earlier this year, Republican Sen. Josh Hawley also introduced legislation that would give $600 tariff rebates to families.
“My legislation would allow hardworking Americans to benefit from the wealth that Trump’s tariffs are returning to this country,” Hawley said when he introduced the legislation, per The Hill.
Hawley also said he wants “hard-working Americans to benefit from the wealth that Trump’s tariffs are returning to this country.”
“Americans deserve a tax rebate after four years of [Joe] Biden [White House] policies that have devastated families’ savings and livelihoods,” the senator said, per The Guardian.
What are the arguments against Donald Trump’s plan to give away $2,000 checks?
U.S. Treasury Secretary Scott Bessent expressed a different view in August when he said the administration’s priority is to use the funds from the tariffs to reduce the national debt, which has passed $38 trillion.
Some financial experts are also more concerned with the cost of giving away checks to almost all Americans.
“If the cutoff is $100,000, 150M adults would qualify, for a cost near $300 billion,” Erica York, vice-president of federal tax policy at the Tax Foundation, wrote on social media, per The Guardian. “If kids qualify, that grows.”
The post $2,000 Checks Are Being Promised To Americans Due To Tariffs, But What Are Folks Saying? appeared first on Blavity.
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