On Sunday, former President Donald Trump proposed a plan to provide most Americans with $2,000 funded by tariff revenues. He stated this idea in a post on his Truth Social platform, suggesting that the payment would exclude high-income individuals. In his post, he labeled opponents of tariffs as “FOOLS.”
For this proposal to be enacted, it would likely require congressional approval. Earlier this year, Senator Josh Hawley of Missouri introduced legislation aimed at providing $600 in tariff rebates to nearly all Americans and their dependent children. He argued that Americans deserved tax rebates due to policies from the Biden administration that he claimed had negatively impacted family savings and livelihoods.
However, U.S. Treasury Secretary Scott Bessent indicated in August that the administration’s priority remains reducing the national debt, currently at $38.12 trillion, with revenues from tariffs intended primarily for this purpose rather than for issuing rebate checks. According to a treasury report from September, $195 billion in tariffs were collected during the first three quarters of the year.
As of October, consumers faced an average effective tariff rate of nearly 18%, the highest since 1934. This increase in tariff rates has led companies to pass some of those costs on to consumers since widespread tariffs were introduced in April.
This is not the first time Trump has suggested giving Americans stimulus checks funded by tariff revenues. Previously, he mentioned potential payments ranging from $1,000 to $2,000 and discussed a $5,000 “dividend” check idea in collaboration with Elon Musk. However, those proposals did not materialize, largely due to budgetary constraints and increased national deficits. On a related note, the U.S. Supreme Court recently heard arguments regarding the legality of Trump’s global tariffs, with justices expressing skepticism.
Source: https://www.theguardian.com/us-news/2025/nov/09/trump-tariffs-refund