US EditionTrump Tariff Rebate Checks Could Cost Twice as Much as Their Revenue: Analysis
The $2,000 tariff rebate plan could cost $600 billion annually, double the expected tariff revenue, raising concerns about increased deficits, says the Committee for a Responsible Federal Budget.
- On Nov. 10, President Donald Trump proposed $2,000 rebate checks funded by tariffs, while the Committee for a Responsible Federal Budget projected the plan would cost $600 billion annually.
- Earlier this year and last summer lawmakers discussed similar ideas, including Sen. Josh Hawley's failed $600 push and Trump's talks on Elon Musk's Department of Government Efficiency, while the 2020 CARES Act set $75,000 individual and $150,000 joint income thresholds used as a template.
- Cost projections reveal the CRFB estimates the tariff-funded rebate program would cost $600 billion a year, while $100 billion in tariffs had been collected by October and a single round costs about $6 billion.
- Congress would need to approve any rebate checks because U.S. Congress controls spending, and the Supreme Court justices, including Chief Justice John Roberts, expressed skepticism about Trump's emergency tariff authorities.
- CRFB's 10-year estimate warns annual rebate checks could increase deficits by $6 trillion, while Trump tied debt reduction to national security and promised to use tariffs to lower debt.
21 Articles
21 Articles
Trump’s latest policy ploy hits major financial snag
USA Today reports that President Donald Trump's plan to send Americans $2,000 rebate checks from money collected through his tariffs is projected to cost $600 billion a year, a policy proposal that even the Wall Street Journal blasted for "suggesting that voters are idiots."This staggering figure comes from an analysis by The Committee for a Responsible Federal Budget (CFRB), a nonpartisan nonprofit that studies fiscal policy. Trump on Sunday wr…
Trump-Backed $2,000 Tariff Dividends Could Cost $600 Billion Per Year, Group Says
A prominent think tank warned on Monday that a Trump administration proposal to send $2,000 dividends from recent tariffs could cost as much as $600 billion per year. “Assuming these dividends are designed like the COVID-era Economic Impact Payments, which went to both adults and children, we estimate each round of payments would cost about $600 billion,” the Committee for a Responsible Federal Budget (CRFB), a Washington-based organization that…
WSJ Editorial Board Criticizes Trump’s $2,000 Tariff Rebate Proposal
NEW YORK – The Wall Street Journal Editorial Board on Monday criticized President Trump’s plan to issue $2,000 rebate checks to Americans, funded by tariff revenue, calling it contradictory and economically dubious. Trump suggested the payments would go to all Americans except high earners, while also claiming leftover funds could help reduce the national debt. […]
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