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By Giulia Carbonaro
Senior Reporter
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President Donald Trump has said he is considering offering Americans stimulus checks of between $1,000 and $2,000 from tariff revenues.
Talking to One America News (OAN) television network in a one-on-one interview aired on Thursday, Trump was asked what he would do with the revenues generated from higher tariffs on imported goods to the U.S.
"We’re going to do something, we’re looking at something. Number one, we’re paying down debt. Because people have allowed the debt to go crazy," he said.
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"But, you know, with growth, with the kind of growth we have now the debt is very little... You grow yourself out of that debt, it’s not a question of paying it. You grow yourself out."
He added: "We’ll pay back debt, but we also might make a distribution to the people, almost like a dividend to the people of America."
Asked about the size of these proposed rebate checks, Trump said that his team was thinking about "maybe $1,000 to $2,000."
Trump talked about the U.S. debt. How big is it right now?
As of the end of September, the U.S. national debt, accumulated over the nation's history, was over $37.86 trillion, according to data by the Treasury. This debt allows the federal government to pay for its activities and investment when revenues alone cannot cover them. Based on live-time data from the Peter G. Peterson Foundation, it is already beyond $38.48 trillion.
Talking to OAN, Trump said that the U.S. national debt is not yet $38 trillion, but it will reach that amount in the future. However, the economic boost he expects as spurring from his policies—including sweeping tariffs on the country's trade partners—will allow the administration to lower the country's debt and share some its revenues with U.S. citizens, he said.
“They're just starting to kick in, but ultimately, your tariffs are going to be over one trillion dollars a year, in my opinion,” he said. “The numbers we have now are bigger than they ever were.”
According to Fox Business, the country has generated roughly $215 billion in revenues from the Trump administration's new tariff policies since April.
Experts, however, have warned that Trump's tax-cutting One Big Beautiful Bill (OBBB)—which he signed on July 4—could cost the country $3.4 trillion over the next 10 years and more than $4 trillion when accounting for additional interest owed on the national debt, based on estimates shared by the Bipartisan Policy Center. This additional costs could partially offset the higher revenues Trump is boasting about.
Even before the controversial bill was signed into law, the federal government was on track to spend $1.9 trillion more this fiscal year than it collected in revenue, according to the nonpartisan Congressional Budget Office (CBO).
Could Trump really redistribute tariff revenues to U.S. citizens?
Sharing tariff revenues with U.S. citizens in the form of rebate checks, as mentioned by Trump in his interview with OAN, would require the approval of Congress.
Back in July, Republican Senator Josh Hawley of Missouri tried to pass a bill, the American Worker Rebate Act, to ensure U.S. citizens receive stimulus checks from tariff revenues. “Like President Trump proposed, my legislation would allow hard-working Americans to benefit from the wealth that Trump's tariffs are returning to this country,” he said in a statement this summer.
Under Hawley's proposed bill, Americans would receive payments of at least $600 per adult and dependent, so $2,400 for a family of four. The bill would allow for payments to grow in size should revenues from tariffs increase over time.
“It is the policy of the United States to use revenue raised from tariffs applied on foreign imports to provide relief for working people through immediate tax rebates," the bill reads. The payments would need to be made 'as rapidly as possible',” and refunds should not be made after December 31, 2026.
Hawley's proposal has yet to pass Congress. It is unclear whether the bill will receive enough support in the currently very divided Congress, which this week failed to avert a government shutdown.
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