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Home – Economic Policy News – Can Trump Really Give Every Adult American $5K Check?

Can Trump Really Give Every Adult American $5K Check?

Elizabeth Troutman Mitchell

President Donald Trump shocked the nation Wednesday night when he promised to send a $5,000 check to every American adult if Republicans win the midterms, but conservative economists say the proposal should not come to fruition.

“Because we’ve done so well, and because our country is making so much money, only I can make this promise to you, and here is my promise: If the Republicans win the House of Representatives and the United States Senate … I will issue a dividend to every adult citizen in the United States of America for $5,000,” Trump said during his Wednesday speech to the Republican National Committee’s Midterm Convention in Dallas.

But economists tell the Daily Signal there are not enough funds for the roughly $1.2 trillion proposal.

“It’s a bad idea, and I think it would have negative economic consequences,” said a former Trump economic adviser.

“We were raising about $150 billion a year from tariffs,” he said, “and the cost of doing that payment would be about a trillion. You couldn’t pay for it with tariff revenue unless you massively raise the tariff rates.”

Moreover, Trump had to return more than $100 billion in tariff revenue after the Supreme Court ruled tariffs imposed under the International Emergency Economic Powers Act were illegal.

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At a time when inflation is already high, a proposal to........

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