Financial Relief for Working Families: Bessent Proposes $2K Tariff Checks to Ease Economic Strain

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(The Hill) — On Sunday, Treasury Secretary Scott Bessent announced that “working families” are set to benefit from the proposed $2,000 tariff checks, a plan put forward by President Trump.

During an appearance on Fox News’s Sunday Morning Futures with Maria Bartiromo, Bessent explained, “[The dividends] would be for working families. We will have an income limit.” This suggests a targeted approach to ensure that the aid reaches those in need.

President Trump first introduced the idea last Sunday, suggesting that “at least” $2,000 be sent to a majority of Americans. He assured that while these payments are being made, his administration intends to continue utilizing tariff revenues to address the national debt, currently standing at $38.12 trillion.

As discussions unfold, the specifics regarding which income brackets will be eligible for these checks remain undefined. Both Bessent and other officials have yet to specify these details. The Hill has contacted the White House and Treasury Department seeking clarity on the eligibility criteria for the tariff checks and the financial implications of implementing such a proposal.

Such a proposal would need to first be passed by Congress. During the COVID-19 pandemic, the legislative branch passed three rounds of stimulus checks, two of which were signed into law by Trump in his first term.

For the two rounds of checks offered under Trump, individuals making up to $75,000 and married couples making up to $150,000 annually were eligible for the full payments. Those who made above the thresholds received partial payments to a certain point.

Over 476 million payments, totaling $814 billion, were sent to households via the three rounds of stimulus checks, according to the Pandemic Response Accountability Committee.

$2K tariff checks would go to ‘working families’: Bessent

In 2022, the real median household income in the U.S. was $74,580, according to the U.S. Census Bureau.

Through the first three quarters of this year, the Treasury Department has collected $195 billion from tariff duties, according to its September statement. At least one analysis says that may not be enough to fund tariff dividends for Americans.

Since the president imposed sweeping tariffs on trading partners around the world in April, firms have passed on the costs to Americans. As of Oct. 17, consumers are facing an average effective tariff rate of 18 percent, the highest since 1934, according to the Yale Budget Lab.

The dividends may not be checks at all, either. Earlier this month, Bessent suggested a dividend “could come in lots of forms,” like “tax decreases.”