"Earlier this year, Republican senator Josh Hawley of Missouri introduced a bill proposing $600 in tariff rebates for nearly all Americans and their dependent children. Americans deserve a tax rebate after four years of [Joe] Biden [White House] policies that have devastated families' savings and livelihoods, Hawley said at the time. He said the legislation would allow hard-working Americans to benefit from the wealth that Trump's tariffs are returning to this country."
"However, US treasury secretary, Scott Bessent, said in August that the administration's main focus remains reducing the national debt, which stands at $38.12tn, using funds from tariff collections. He said the money would be used first to start paying down the federal debt not to give rebate checks to Americans. According to the treasury department's September report, $195bn in tariff duties were collected during the first three quarters of the year."
Trump mused about giving most Americans $2,000 funded by tariff revenues collected by the administration, and posted that people against tariffs are 'FOOLS'. Such a dividend would likely require congressional approval. Republican senator Josh Hawley earlier proposed $600 in tariff rebates for nearly all Americans and dependents, saying Americans deserve a tax rebate after four years of Biden policies. Treasury Secretary Scott Bessent said administration priority is reducing the $38.12tn national debt using tariff funds, not issuing rebate checks. The Treasury reported $195bn in tariff duties during the first three quarters, and consumers face an average effective tariff rate near 18%.
Read at www.theguardian.com
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