President Donald Trump promised Americans a tariff dividend of “at least $2,000 a person” in a post, calling anyone who doesn’t support his economic policies “FOOLS!”
“People that are against Tariffs are FOOLS! We are now the Richest, Most Respected Country In the World, With Almost No Inflation, and A Record Stock Market Price. 401k’s are Highest EVER,” Trump wrote in a Truth Social post on Sunday. “We are taking in Trillions of Dollars and will soon begin paying down our ENORMOUS DEBT, $37 Trillion. Record Investment in the USA, plants and factories going up all over the place.”
“A dividend of at least $2000 a person (not including high income people!) will be paid to everyone,” he added.
Per the Treasury Department, the administration has collected $195 billion in tariff duties as of September.
But as of Oct. 13, consumers face an average effective tariff rate of 18%, which is the highest since 1934. Tariffs have been a source of economic uncertainty, exacerbated even more by the recent government shutdown that froze small business loans and laid off federal employees who no longer bring revenue to their local stores.
Despite the promise from Trump, it’s likely any dividends would need the approval of Congress. The Washington Examiner reached out to the White House for clarification on how these $2,000 dividends would be achieved.
Treasury Secretary Scott Bessent said on This Week on ABC News on Sunday that he has not spoken to the president about his $2,000 dividend proposal.
“The $2,000 dividend could come in lots of forms, in lots of ways, George,” Bessent said to host George Stephanopoulos. “It could be just the tax decreases that we are seeing on the president’s agenda — no tax on tips, no tax on overtime, no tax on Social Security, deductibility of auto loans.”
Bessent went on to defend Trump’s tariff policies, saying he is “not at all” concerned that the president’s focus on revenue will hurt the argument being made in a case on tariffs being reviewed by the Supreme Court. In public statements similar to one made Sunday, Trump has called his tariffs a “BONANZA FOR AMERICA,” while his lawyers have argued before the high court that the fact that tariffs are raising revenue “is only incidental.”
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If the Supreme Court rules the tariffs are at bare minimum a form of taxes, then it is likely to rule against them, as Congress, not the president, has the power to tax.
In the Senate, Sen. Josh Hawley (R-MO) introduced a bill that would give $600 in tariff rebates to nearly all Americans and children.