huffingtonpost - 1 month ago

!function(n){if(!window.cnx){window.cnx={},window.cnx.cmd=[];var t=n.createElement( iframe );t.display= none ,t.onload=function(){var n=t.contentWindow.document,c=n.createElement( script );c.src= //cd.connatix.com/connatix.player.js ,c.setAttribute( async , 1 ),c.setAttribute( type , text/javascript ),n.body.appendChild(c)},n.head.appendChild(t)}}(document);(new Image()).src = https://capi.connatix.com/tr/si?token=ff7fdddc-5441-4253-abc4-f12a33fad58b ;cnx.cmd.push(function(){cnx({ playerId : ff7fdddc-5441-4253-abc4-f12a33fad58b , mediaId : f473f6ed-ed05-495d-bb05-aae34adcb99a }).render( 6910e7d7e4b004594276ea30 );});Donald Trump has said that each American will receive at least $2,000 from US tariff revenues.In a Sunday post on Truth Social, Trump noted that the payments would be for all but “high income people.”“A dividend of at least $2000 a person (not including high income people!) will be paid to everyone,” the president wrote, seemingly attempting to garner public support for his criticized tariffs.Trump called out his political opponents who have slammed his pro-tariff stance as “fools,” claiming that his sweeping tariffs have made America more powerful and wealthier. “We are now the Richest, Most Respected Country In the World, With Almost No Inflation, and A Record Stock Market Price,” he wrote. Trump told his 11 million followers on Truth Social that “401k’s are highest ever” and the country is “taking in trillions of dollars” from tariffs, which he alleged will help the U.S. “soon begin paying down our enormous debt, $37 trillion.”Trump also alleged that “record investment in the USA, plants and factories” have been “going up all over the place.” The White House didn’t immediately respond to HuffPost’s request for comments about the president’s plan.Treasury Secretary Scott Bessent (R) appeared to hedge Trump s promise to pay “at least $2000” tariff dividend payments directly to Americans.Trump’s post came after the Supreme Court’s hearing on November 5, where both democratic and right wing justices voiced concerns about the legality of Trump imposing tariffs without congressional approval. It’s not clear when the Supreme Court will rule on the tariff case.Meanwhile, Trump has leaned on a federal law known as the International Emergency Economic Powers Act — an unprecedented move from previous presidents — to enact higher tariffs. Trump has been using the IEEPA as a loophole despite the fact that two lower courts and most judges in the U.S. Court of Appeals for the Federal Circuit determined earlier this year the president does not have the power to do so.When asked Sunday on ABC’s “This Week” about Trump’s dividend promise, Treasury Secretary Scott Bessent appeared to couch the president’s so-called plans, for which there is not a formal proposal. Pressed by host George Stephanopoulos for an answer on whether Trump has a definitive plan for the dividends, Bessent argued that Trump’s dividends could manifest in a variety of economic benefits.“The $2,000 dividend could come in lots of forms, in lots of ways, George,” Bessent said. “You know, it could be just the tax decreases that we are seeing on the president’s agenda. You know, no tax on tips, no tax on overtime, no tax on Social Security.” He added, “Deductibility of auto loans. So, you know, those are substantial deductions that, you know, are being financed in the tax bill.”

Latest News

Hashtags:   

Trump

 | 

Americans

 | 

Receive

 | 

Tariff

 | 

Dividend

 | 

Treasury

 | 

Secretary

 | 

Could

 | 

Other

 | 

Forms

 | 

Sources