Overview
- Officials say no federal stimulus has been authorized, with the IRS confirming past Economic Impact Payments are complete and warning that new $2,000 check claims may be scams.
- National Economic Council Director Kevin Hassett says the president plans to send a proposal to Congress, and any checks would require legislation before the IRS could issue payments.
- The administration has described the rebates as targeting working families earning under about $100,000, and outside analysis suggests roughly 58% of U.S. households could fall under that threshold.
- Tax Foundation estimates put the potential cost at about $280 billion to more than $600 billion, compared with roughly $216.7 billion in tariff receipts reported for fiscal 2025, raising deficit concerns.
- The Supreme Court could rule as soon as this month on the president’s IEEPA-based tariffs, and an adverse decision could halt duties and force refunds that would undercut funding for the rebates.