Trump announces $2,000 "tariff dividend" for all citizens, excluding high-income groups
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Trump announces $2,000 "tariff dividend" for all citizens, excluding high-income groups
Besent suggested that the payment could be realized in various forms, such as tax-exempt policies.
Navigating Web3 tides with focused insightsAuthor: Jinshi Data
U.S. President Trump claimed on Sunday that all Americans—except "high-income individuals"—would receive a "bonus of at least $2,000 per person," adding that the United States has become a wealthy nation due to its tariff policies.
"Anyone who is against tariffs is a fool! We are now the wealthiest and most respected nation in the world, with near-zero inflation, stock markets hitting record highs, and 401k retirement accounts at all-time highs," Trump wrote on his social media platform.
He added: "We are collecting trillions of dollars and will soon begin paying down our massive $37 trillion debt. America is receiving record investments, factories are opening everywhere. Everyone will get a bonus of at least $2,000 (excluding high-income individuals!)"
Treasury Secretary Bessent said in an interview on ABC's "This Week" on Sunday that he had not yet discussed this proposed bonus plan with Trump.
"The $2,000 bonus could be delivered in various forms and through multiple channels," Bessent told the host, "It could come from tax relief measures we're advancing on the presidential agenda—such as tipping tax exemption, overtime tax exemption, Social Security tax exemption, auto loan tax credits, and so on."
Trump's statement on Truth Social came shortly after the White House defended the broad use of tariff authority at the Supreme Court last week. Justices expressed skepticism about Trump's expansive use of the International Emergency Economic Powers Act.
Trump’s public proposal for Americans to receive $2,000 from tariff revenues also emerged after Democrats won elections across the country last week. From moderate to progressive candidates, Democrats ran disciplined campaigns focused squarely on affordability and cost of living.
Bessent emphasized that the primary purpose of tariffs is not revenue generation—which falls under congressional authority—but rather addressing what the government sees as unfair trade imbalances.
"The focus is not on raising revenue, but on rebalancing," Bessent said. "Revenue is generated initially. As rebalancing occurs and jobs return, it then translates into domestic tax receipts."
However, tariffs have already generated billions in revenue. By September, the U.S. government had collected $195 billion in tariff revenue—taxes paid by businesses importing goods from overseas.
Compared to tariff revenue in the previous fiscal year 2024, this represents a 250% increase, or an additional $118 billion.
According to Treasury data, tariffs are expected to generate approximately $3 trillion in revenue over the next decade.
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