Overview
- National Economic Council Director Kevin Hassett said on Face the Nation that any $2,000 payments will depend on Congress and that the president plans to present a proposal early next year.
- Treasury Secretary Scott Bessent has indicated the rebates would likely be limited to households earning under $100,000.
- Officials say any payments would likely be delivered through the tax code and require new legislation authorizing Treasury to issue checks, with funding potentially sourced from tariffs or general revenues.
- The nonpartisan Tax Foundation estimates a broad $2,000 payout could cost roughly $280 billion to more than $600 billion, exceeding tariff receipts reported to date and projected for 2025.
- Major obstacles remain, including a pending Supreme Court review of the administration’s tariff authority and Republican lawmakers who favor using tariff revenue to reduce deficits rather than issue rebates.