Treasury Secretary Scott Bessent Says Trump’s $2,000 Tariff Payments Need Congressional Approval
Scott Bessent says Trump’s $2,000 tariff-funded payments require Congress, as the plan’s cost is projected to far exceed expected tariff revenue next year.
Key Points
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Bessent said Trump cannot move forward with the $2,000 tariff-funded payments without approval from Congress.
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Trump said the payments would be funded through tariff revenue and planned for release next year.
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A budget watchdog estimated the proposal would cost about $600 billion, far above expected tariff income.
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Bessent said inflation is expected to ease and household pressure to improve early next year.
Treasury Secretary Scott Bessent said President Donald Trump’s plan to send $2,000 payments funded by tariff revenue cannot proceed without action from Congress.
Speaking on Sunday, Bessent said the administration supports the idea but does not have the authority to issue the payments through executive power alone.
“We need legislation for that,” he said.
Trump has been promoting the plan as households continue to face pressure from high living costs. During a conversation with reporters aboard Air Force One on Friday, he said the payments would be issued next year to “everybody but the rich.” He called the checks a “dividend” drawn from tariff collections and said the same funds would help reduce the national debt.
Cost Estimate Far Exceeds Expected Tariff Revenue
Initial projections show a large gap between the cost of the proposal and the amount of tariff revenue expected next year.
The Committee for a Responsible Federal Budget estimated the proposal at roughly $600 billion, assuming it followed a design similar to past federal relief payments. That estimate is about twice the tariff revenue analysts expect the government to take in for 2026.
Tariffs brought in $195 billion during the fiscal year that ended in September. Forecasts point to around $300 billion for the next calendar year.
Bessent Says Relief Could Build in Early 2026
Bessent said households should begin to feel some financial improvement in the first half of 2026, citing tax changes enacted earlier this year.
He said the administration expects slower inflation and stronger income growth during that period.
“In the first two quarters we are going to see the inflation curve bend down and the real income curve substantially accelerate,” Bessent said.
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