President Donald Trump has promised to share some of the money generated by his administration\u2019s tariffs with millions of Americans, but details regarding the plan, and whether it will actually come to fruition, remain unknown.<\/p>\n
Last month, Trump took to social media to bash those who have been critical of the administration\u2019s implementation of tariffs on various countries over the past year.<\/p>\n
\u201cPeople 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\u2019s are Highest EVER. 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,\u201d the president wrote on Truth Social.<\/a><\/p>\n He went on to say that the money generated through such tariffs would be redistributed to millions of Americans via tariff dividends, which would be similar to the stimulus checks issued throughout the coronavirus pandemic.<\/p>\n \u201cA dividend of at least $2,000 a person (not including high income people!) will be paid to everyone,\u201d Trump wrote.<\/p>\n The social media post did not offer any specific details regarding the proposal, including who would qualify.<\/p>\n For the pandemic-era stimulus checks, full payments were available to individuals earning up to $75,000 annually and couples earning up to $150,000 annually, with some earning above those thresholds eligible eligible for lesser payments.<\/p>\n However, it remains unclear whether the tariff-funded checks will become a reality.<\/p>\n Shortly after Trump\u2019s post, Treasury Secretary Scott Bessent told ABC News<\/a> that he had not spoken with the president about the proposal and that the tariff dividend could come \u201cin lots of forms,\u201d including the tax savings many Americans will receive through provisions in the Big Beautiful Bill.<\/p>\n \u201cIt could be just the tax decreases that we are seeing on the president\u2019s agenda. No tax on tips, no tax on overtime, no tax on Social Security, deductibility on auto loans. Those are substantial deductions that are being financed in the tax bill,\u201d Bessent told ABC News.<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"President Donald Trump has promised to share some of the money generated by his administration\u2019s tariffs with millions…\n","protected":false},"author":2,"featured_media":76615,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[39],"tags":[9,24,63,134,136,135],"class_list":{"0":"post-76614","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-staten-island","8":"tag-new-york","9":"tag-new-york-city","10":"tag-nyc","11":"tag-staten-island","12":"tag-staten-island-headlines","13":"tag-staten-island-news"},"_links":{"self":[{"href":"https:\/\/www.newsbeep.com\/us-ny\/wp-json\/wp\/v2\/posts\/76614","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.newsbeep.com\/us-ny\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.newsbeep.com\/us-ny\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-ny\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-ny\/wp-json\/wp\/v2\/comments?post=76614"}],"version-history":[{"count":0,"href":"https:\/\/www.newsbeep.com\/us-ny\/wp-json\/wp\/v2\/posts\/76614\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-ny\/wp-json\/wp\/v2\/media\/76615"}],"wp:attachment":[{"href":"https:\/\/www.newsbeep.com\/us-ny\/wp-json\/wp\/v2\/media?parent=76614"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-ny\/wp-json\/wp\/v2\/categories?post=76614"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-ny\/wp-json\/wp\/v2\/tags?post=76614"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}