President Donald Trump promised Sunday that Americans would receive dividend payments of at least $2,000 funded by tariff revenue, but Treasury Secretary Scott Bessent said hours later he has not discussed the idea with Trump and no formal proposals exist.
Trump wrote on Truth Social that the payments would go to all Americans except “high income people,” describing the country as now taking in “trillions of dollars” from tariffs. He did not specify eligibility requirements or provide implementation details.
Bessent told ABC News’ “This Week” on Sunday that he had not discussed the proposal with Trump. The Treasury secretary suggested the promised $2,000 could refer to tax savings from recently passed legislation, including provisions eliminating taxes on tips, overtime, and Social Security benefits.
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“It could come in lots of forms, in lots of ways,” Bessent said, adding that tariffs aim to “rebalance” trade rather than generate revenue.
Treasury Department data shows the government collected $195 billion in customs duties through September, far short of the estimated $300 billion needed for $2,000 payments to Americans earning under $100,000 annually, according to Tax Foundation calculations.
Direct payments require Congressional approval, similar to pandemic-era stimulus checks. Past checks under Trump went to individuals earning up to $75,000 and couples making up to $150,000.
And then there’s the issue of legality. The Supreme Court recently heard arguments questioning Trump’s authority to impose tariffs, with justices expressing concern the levies function as revenue-raising taxes. A ruling against the administration could force the government to refund more than $100 billion to importers.
Trump first floated the tariff dividend concept in October, telling One America News Network he was considering checks between $1,000 and $2,000. Sen. Josh Hawley, R-Mo., introduced legislation proposing rebate checks funded by tariff revenue, but the bill remains in committee.
Economists warn such payments could fuel inflation at a time when Americans cite rising prices as their top concern. The Yale Budget Lab estimates current tariff policies will cost the average household $1,800 in 2025.
The Treasury Department projects tariffs will generate roughly $3 trillion over the next decade, though budget analysts note tariffs also reduce income and payroll tax revenue.
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