The White House National Economic Council Director, Kevin Hassett, stated on Sunday (December 21st) that President Trump is likely to propose legislation in the new year to request Congress’s support for distributing a $2000 tariff dividend to the American people.
Hassett, in an interview on the American Columbia Broadcasting System (CBS) program “Face the Nation” on Sunday, said whether Trump’s idea of using tariff revenue to distribute a $2000 bonus to Americans can be realized will depend on the situation in Congress.
“I expect in the new year, the President will submit a proposal to Congress to achieve this goal,” he said.
According to CBS, since July, President Trump has consistently mentioned that the government may allocate a portion of the significant revenue generated from the new tariff measures to distribute bonuses to Americans. Last month, Trump stated on social media that a bonus of at least $2000 would be paid to everyone (excluding high-income earners). Treasury Secretary Scott Bessent also mentioned in an interview with Fox News last month that these bonuses may be given to American households with annual incomes below $100,000. However, he noted that the plan was still under discussion.
Hassett pointed out in Sunday’s interview that the funding for these checks may come from tariff revenue. “Ultimately, we have taxes, we have tariffs, we have revenue from various sources, and then Congress decides how to spend this money. This is an appropriation.”
He stated that this funding would require approval from Congress, might be distributed according to tax laws, and would need lawmakers to pass new legislation authorizing the Treasury Department to send the checks. Hassett noted that since July, there have been “a lot of positive economic news,” making the distribution of bonus checks more likely.
“We have had almost 4% economic growth rates for two quarters, and in fact, we have had larger government fiscal surpluses for several months, reducing the deficit by $600 billion compared to last year. So, back in the summer, I wasn’t sure if there was room to distribute such checks, but now I am fairly certain that there is.” he said.
The White House’s Chief Economic Advisor also expressed confidence that the U.S. Supreme Court would support the government’s position on tariff issues. Currently, the justices are reviewing whether the President has the authority to impose tariffs under the International Emergency Economic Powers Act (IEEPA), and the Trump administration has levied tariffs on almost all U.S. trading partners under this law.