THE White House is boasting record revenue from its ongoing tariff policies.
And now President Donald Trump says he plans to fork some of those winnings back to the people in the form of checks.
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“We have so much money coming in, we’re thinking about a little rebate,” Trump told reporters in July.
As of yet, the president hasn’t offered much detail about the potential rebate.
But a bill outlining what it may look like is making its way down the lawmaking pipeline.
BREAKDOWN
Sen. Josh Hawley of Missouri has introduced a bill that would provide at least $600 in tariff rebate checks to American workers and families.
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And an eligible family of four could see up to $2,400.
“Americans deserve a tax rebate after four years of Biden policies that have devastated families’ savings and livelihoods,” Hawley said in a press release.
But unlike the stimulus checks seen during the covid era, these checks would be funded from tariff revenue rather than the pocket of the federal government.
Still, the eligibility parameters for these tax rebates would be similar to those of the covid stimulus checks.
So single filers with adjusted gross incomes (AGI) of up to $75,000 and joint filers with AGIs up to $150,000 would receive the full benefit.
For those whose AGI exceeds these limits, the benefit would be reduced by 5%.
Hawley’s bill called the American Rebate Worker Act has been referred to the Senate Finance Committee.
But it would need to pass the Senate and the House of Representatives to become law.
WHAT’S THE DEAL?
As Hawley’s bill makes its way through lawmakers’ desks, it is bound to face some opposition – even from those in Trump’s crew.
Hawley told Semafor, the Act “probably would be the most popular thing that this Congress would do.”
“Which means, of course, Republicans would be against it,” he added.
And Sen. Bernie Moreno told the publication, “Oh God, no, insane.”
What items will be affected by the tariffs?
AMERICANS should prepare to see significant prices changes on everything from avocados to cars under President Donald Trump’s new global tariffs.
Here is a list of some of the everyday products that could see a massive price tag surge.
- Coffee
- Tea
- Bananas
- Foreign-made cars
- Sneakers
- Furniture and other home goods
- Pharmaceuticals
- Video games
- Clothing
- Toys
- Washers and dryers
- Avocados
- Housing materials
“Two reasons. No. 1, we have a $37 trillion debt … No. 2, it’s extraordinarily inflationary.”
And Trump has maintained that his priority is paying down the government debt.
Nonetheless, the White House continues to champion tariff revenue and says it has raised at least $100 billion.
U.S. Treasury Secretary Scott Bessent said he expects tariff revenue to reach $300 billion annually.
“The big thing we want to do is pay down debt,” Trump said last month. “But we’re thinking about rebates.”
