Trump's $2,000 Checks Plan Requires Congressional Approval

Treasury Secretary Scott Bessent stated that President Donald Trump's proposal to send $2,000 checks to US citizens from tariff revenue would require congressional approval. Bessent made this comment on Fox News Sunday Morning Futures, saying "We need legislation for that." The proposal, which Trump has touted as a way to alleviate public frustration over the cost of living, involves distributing the revenue from tariffs as a dividend to US citizens. According to Trump, the checks would be sent to "everybody but the rich" and would be a way to utilize the billions of dollars raised in US tariff revenue this year. Trump also mentioned that the tariffs would allow the government to reduce debt. However, one estimate suggests that the plan could cost the US government double what it is projected to take in for 2025, according to the Committee for a Responsible Federal Budget. The idea of sending checks to citizens from tariff revenue is not a new concept, as Trump has previously referenced the COVID-19 relief checks that were distributed during the pandemic. Trump has stated that the tariff dividend would be a similar concept, with the revenue from tariffs being distributed to citizens as a dividend. Some experts have expressed skepticism about the proposal, citing concerns about the potential cost and the effectiveness of using tariff revenue to alleviate the cost of living. Others have pointed out that the plan could be seen as a form of wealth redistribution, with the revenue from tariffs being used to benefit citizens rather than being used to reduce the national debt. The proposal is currently in the discussion phase, with no clear timeline for implementation. Bessent's statement that congressional approval would be necessary for the plan to move forward suggests that the proposal will face significant hurdles before it can become a reality. As the proposal continues to be discussed, it remains to be seen whether it will be implemented and what the potential impact will be on the US economy.