Tuesday, 02 January 2024 12:17 GMT

Americans to receive at least two-thousand each from tariff revenues


(MENAFN) U.S. President Donald Trump announced Sunday that every American could receive at least $2,000 funded by tariff revenues, though the plan would require approval from Congress, according to reports.

“A dividend of at least $2000 a person (not including high-income people!) will be paid to everyone,” Trump wrote on his social media platform, Truth Social.

The proposal was unveiled as the Supreme Court reviews the legality of Trump’s tariff measures and as the prolonged government shutdown continues to disrupt federal programs, including food assistance payments.

Treasury Secretary Scott Bessent later told a news outlet that “the $2,000 dividend could come in lots of forms,” explaining that it might take the shape of tax reductions such as eliminating taxes on tips or overtime pay.

Defending his trade strategy, Trump declared, “People that are against tariffs are fools! We are now the richest, most respected country in the world, with almost no inflation, and a record stock market price.” He added that tariff revenue was generating trillions of dollars that would “soon begin paying down our enormous debt, $37 trillion.”

The dividend proposal comes as the U.S. government grapples with financial strain amid the 40-day federal shutdown. Any nationwide payment initiative would still need congressional authorization, but lawmakers remain deeply divided over budget negotiations that caused the shutdown.

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