Commerce Secretary Says Trump $5,000 Checks Would Not Use Taxpayer Money
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Commerce Secretary Howard Lutnick told NBC News the proposed $5,000 dividend for U.S. adults would be financed through private-sector programs and asset gains, not from the federal budget.
Commerce Secretary Howard Lutnick told NBC News that the $5,000 "dividend" promised by President Donald Trump for every adult in the United States would not be funded with tax dollars. In an interview at the National September 11 Memorial & Museum, Lutnick said the administration could generate the money without tapping the deficit or taxpayer contributions.
Lutnick pointed to a forthcoming Commerce Department program, the Trump Platinum Card, which would allow wealthy applicants to pay $5 million for an extended U.S. visa, noting a waitlist of more than 100,000 people that could generate roughly $500 billion. He also cited the government’s 2023 investment in Intel, where the administration purchased about 500 million shares at $20 each; the stock’s market price has risen to about $100, creating an unrealized gain of $50 billion. The investment was made using $8.9 billion from the CHIPS Act, and the shares have not yet been sold.
Other officials have offered alternative financing ideas. National Economic Council director Kevin Hassett said the White House is exploring a congressional reconciliation process to fund the checks, with early estimates placing the cost at about $1.3 trillion. Vice President JD Vance suggested tariff revenues could be used, though analysts note that even the full amount of recent tariff collections would fall far short of the projected expense.
The proposal comes as the national debt recently exceeded $40 trillion and the annual budget deficit approaches $1.8 trillion. Lutnick said the administration aims to reduce debt by targeting waste, fraud and abuse, a strategy economists consider unlikely to have a significant impact.
Public opinion on the administration’s economic policies remains unfavorable. A recent Associated Press poll showed a 32% approval rating for Trump’s handling of the economy, and an NBC News poll found 52% of respondents strongly disapproved of his approach to inflation and the cost of living.