Overview
- National Economic Council Director Kevin Hassett said the president will bring a plan to Congress in the new year and that any payments would require a new appropriation processed through the tax code.
- Treasury Secretary Scott Bessent has indicated the checks would likely be limited to households earning under $100,000, with specifics still under discussion.
- Treasury reports roughly $195 billion in tariff revenue for FY2025, while nonpartisan analyses estimate the proposed checks could cost between about $280 billion and $600 billion.
- The Supreme Court is weighing the administration’s use of emergency tariff authority, and an adverse ruling could reduce collections or trigger refunds to importers.
- Several Republicans prefer using tariff receipts to cut deficits, and the administration has highlighted a separate, enacted $1,776 military “warrior dividend” to illustrate targeted payments already moving through existing law.