US citizens to really get $2,000 payment? Donald Trump gives latest update on mega dividend announcement
President Donald Trump confirmed his previous announcement and said the government will pay $2000 dividends to low- and middle-income US citizens from the ‘massive’ tariff income generated after the country imposed duties on imports from virtually all countries.
US President Donald Trump on Monday provided an update on his previous announcement to pay $2,000 per person to low- and middle-income citizens.
Donald Trump confirmed that the government will distribute the $2,000 dividend payments to low- and middle-income US citizens using the ‘massive’ tariff income generated after the country imposed duties on imports from virtually all countries.
He explained that the government will use the remaining money, after paying the $2,000 per person, to substantially reduce the national debt. Trump pegged the US debt at $37 trillion.
“All money left over from the $2000 payments made to low and middle income USA Citizens, from the massive Tariff Income pouring into our Country from foreign countries, which will be substantial, will be used to SUBSTANTIALLY PAY DOWN NATIONAL DEBT,” the US President said in a post on Truth Social.
Trump promises $2,000 each to most Americans
In a post on Sunday, Donald Trump promised $2,000 each to most Americans. He said he would fund the dividend payments with revenue generated from the newly imposed US tariffs.
“A dividend of at least $2000 a person (not including high income people!) will be paid to everyone,” he wrote on X.
Calling out people who are against the Trump Tariffs, the President claimed that the US now has almost no inflation.
“People that are against Tariffs are FOOLS! We are now the Richest, Most Respected Country In the World, With Almost No Inflation, and A Record Stock Market Price. 401k’s are Highest EVER,” he said.
Trump also claimed that the tariff income will be used to bring down the US's debts.
“We are taking in Trillions of Dollars and will soon begin paying down our ENORMOUS DEBT, $37 Trillion. Record Investment in the USA, plants and factories going up all over the place,” he said.
US tariffs are now at their highest in roughly a century, and the Treasury Department is collecting around $30 billion a month, reported Bloomberg. Trump also touts the investments in the US that companies and trade partners have pledged as a result of his dealmaking.
However, the Supreme Court has recently raised questions about the validity of the US tariffs. At a hearing last week, justices appeared sceptical that Trump had the constitutional authority to impose his country-based tariffs.
A ruling for the same is expected by the end of this year.