‘Starting to kick in’: Trump hints at $1,000–$2,000 ‘tariff dividend’ for Americans; what it means


'Starting to kick in': Trump hints at $1,000–$2,000 'tariff dividend' for Americans; what it means

US President Donald Trump on Thursday said that he is considering giving Americans up to $2,000 in rebates from revenues generated by his tariff policies, calling the payments a “dividend to the people of America.“They’re just starting to kick in,” Trump said in an interview with One America News Network, referring to the tariffs imposed on foreign nations since April. “Ultimately, your tariffs are going to be over a trillion dollars a year,” he added.When the reporter asked about the potential size of the rebate, the US president declared, “We’re thinking maybe $1,000 to $2,000 – it would be great.”Trump said the funds would first be used to reduce the US national debt, currently at $37 trillion, which he described as “very little, relatively speaking” given the surge in government revenue from tariffs.“Number one, we’re paying down debt,” Trump stated, “because people have allowed the debt to go crazy.” “With that being said, we’ll pay back debt, but we also might make a distribution to the people,” he added.According to Treasury data cited by Fox Business, the federal government has collected approximately $214.9 billion from tariffs so far this year. Though the September revenues of $31.3 billion fell slightly from August’s record by $73 million.Treasury Secretary Scott Bessent had earlier projected that the total tariff revenue could reach at least $300 billion by year-end.The proposal comes as the Supreme Court prepares to hear a case in early November to determine whether the president has the authority to impose broad tariffs. Earlier rulings by lower courts and the US Court of Appeals for the Federal Circuit questioned the legality of most of Trump’s levies but allowed them to remain in effect pending appeal. Bessent also asserted the top court that if the tariffs are ruled illegal, the government could be required to refund between $750 billion and $1 trillion in collected and projected revenue.





Source link

  • Related Posts

    Gold price today: How much 18K, 22K and 24K gold costs in your city? Check rates for Bengaluru, Delhi & more

    Gold prices rose on Friday, climbing Rs 1,044 to reach Rs 1,53,880 per 10 grams in futures trade. This surge was driven by traders who took fresh positions, responding to…

    Shock in Colombo! Zimbabwe stun Australia by 23 runs as Muzarabani, Bennett script T20 World Cup classic | Cricket News

    Blessing Muzarabani of Zimbabwe celebrates the wicket of Tim David of Australia. (Getty Images) Zimbabwe produced one of the biggest surprises of the ICC T20 World Cup 2026, defeating injury-hit…

    Leave a Reply

    Your email address will not be published. Required fields are marked *

    en_USEnglish