President Trump said Sunday that every American will get at least $2,000 from tariff revenue collected by the administration.
“Each person (not including high-income earners) will be paid a dividend of $2,000,” the president said. Said On his Truth Social platform. He said that people who oppose tariffs are “idiots”!
Such a proposal would likely need to be passed by Congress. This summer, Republican Senator Josh Hawley (Mo.) Pur: Legislation to provide a $600 tariff rebate to nearly all Americans and their dependent children.
“My legislation will allow hard-working Americans to benefit from the wealth that Trump’s tariffs are returning to this country,” Hawley said at the time.
However, Treasury Secretary Scott Besant, told cnbc Administration in August Priority Paying $38.12 trillion National debt Using tariff revenues.
On Sunday, Trump also said the administration would pay down the “huge” debt using tariff revenue.
Hill has contacted the White House for clarification on the President’s plan.
As of September, the Treasury Department collected $195 billion from tariff duties during the first three quarters of this year statement,
But as of October 17, consumers are facing an average effective tariff rate of 18 percent, the highest since 1934. According to Yale Budget LabAfter the president imposed sweeping tariffs on trading partners around the world in April, companies have passed some of the costs of the tariffs on to customers.
