The U.S. Treasury is already working on $5,000 payments to Americans; the program could cost more than $1 trillion
Kyiv • UNN
The U.S. Treasury is studying $5,000 payments to adults if Republicans win the election. The program could cost $1.3 trillion.
The U.S. Treasury Department is already exploring the possibility of paying $5,000 to adult Americans if Republicans win the midterm elections in November. Treasury Secretary Scott Bessent said the administration is seeking a way to implement the program without increasing the budget deficit, Reuters reports, according to UNN.
Details
During a hearing before the House committee, Bessent confirmed that the Treasury has been working on the proposal for quite some time, but has not yet disclosed how it would be funded.
This issue is currently being worked on. I am not prepared to discuss it at this time, but at the Treasury Department we have been working on it for quite a long time
The program could cost more than $1 trillion
According to analysts' estimates, paying $5,000 to every adult American could cost the federal budget approximately $1.3 trillion. Bessent, meanwhile, said he sees ways to make the payments without increasing the deficit, but provided no details.
If the administration concludes that congressional approval is necessary to implement the program, Bessent promised to work on it with House Speaker Mike Johnson.
Donald Trump announced the idea of the so-called "Trump dividend" last week. He promised to pay $5,000 to adult Americans if Republicans retain control of Congress in the November midterm elections.