US Treasury Secretary supports $5000 payments to Americans
US Treasury Secretary Scott Bessent has supported President Donald Trump's proposal to pay $5000 to adult Americans if Republicans retain control of both chambers of Congress. The Treasury Department claims it is exploring ways to fund the payments without increasing the budget deficit and national debt.
Bloomberg reports this, citing Bessent's statement during congressional hearings.
The head of the US Treasury said he supports the so-called Trump Dividend proposed by Trump. At the same time, he tried to allay concerns about the cost of the program, which could exceed $1 trillion with broad coverage.
According to Bessent, the Treasury Department is considering options to finance the payments in a way that does not lead to an additional increase in the US deficit or national debt. The minister did not disclose a specific mechanism.
Trump first announced the payment on September 9 at the Republican Party convention in Dallas. The President promised to provide $5,000 to every adult US citizen provided that Republicans retain a majority in both the House of Representatives and the Senate after the midterm elections.
The White House subsequently officially supported the initiative, calling it the "Trump dividend." The president himself compared the payments to dividends that a successful company distributes to its shareholders.
It remains unclear whether the administration can make such payments without a separate decision by Congress. House Speaker Mike Johnson said earlier that the initiative would require legislative approval. According to him, Congress will also need to determine the source of funding for the program.
The proposal has met with mixed reactions within the Republican Party. Some senators express concerns about the potential cost of the payments and their possible impact on inflation and public finances. Trump himself insists that the payments will be made if Republicans win the elections.
Based on materials from: Bloomberg, White House, Axios
