Treasury Secretary Bessent: Trump's Proposed $2,000 Tariff Dividends Require Congressional Approval

Treasury Secretary Scott Bessent indicated that President Donald Trump's plan to distribute $2,000 "dividend" payments from tariff revenues to U.S. citizens would require congressional approval. Speaking on Fox News' "Sunday Morning Futures," Bessent stated, "We will see. We need legislation for that."

President Trump has highlighted the substantial funds generated from U.S. tariffs this year and proposed these payments as a response to public concerns over rising living costs. During a conversation with reporters aboard Air Force One, Trump mentioned that the checks would be issued "sometime next year" to "everybody but the rich." He emphasized, "It's a lot of money. But we've taken in a lot of money from tariffs. The tariffs allow us to give a dividend." He also noted plans to use tariff revenues for debt reduction.

The Committee for a Responsible Federal Budget estimated that implementing such a dividend could cost the U.S. government approximately $600 billion, potentially doubling the projected tariff revenue for 2025. Net U.S. tariff revenue for the fiscal year through September totaled $195 billion, with economists projecting about $300 billion for the calendar year 2025.

Bessent also mentioned that Americans should anticipate economic relief early next year, attributing this to tax cuts from Trump's recently passed policy bill. He stated, "So I would expect in the first two quarters we are going to see the inflation curve bend down and the real income curve substantially accelerate."