Treasury Secretary Scott Bessent said President Trump’s intent to pay $5,000 to American adults is “very real” and he looks forward to working with House Speaker Mike Johnson on the plan, if necessary.
Mr. Bessent said he would meet with Mr. Johnson, Louisiana Republican, if it becomes clear that the Trump administration needs congressional authority for the disbursements.
“We are currently examining that at Treasury,” Mr. Bessent told the House Financial Services Committee on Tuesday. “When the Republicans win in November, if we need to, I look forward to working with Speaker Johnson on it.”
Mr. Trump proposed the $5,000 dividend on Wednesday while speaking at the Republican midterm convention. He said it would be paid if the GOP wins the House and Senate.
“The president’s intent is very real,” Mr. Bessent said.
Democrats have panned the plan as a naked bribe to get Americans to vote for Republicans this midterm cycle as the GOP clings to majorities in both chambers.
They also want more details on how the plan would work and if it would involve Congress.
Rep. Emanuel Cleaver, II, Missouri Democrat, said that “spending begins in the House of Representatives, and $5,000 per person, it would seem to me, would have to move through the legislative body.”
He added, “We’re seeing a slow, and in my estimation, dangerous reduction in the equality of the three branches of government.”
Trump officials have vowed to cover the $1.2 trillion price tag of the dividend plan without burdening taxpayers.
Commerce Secretary Howard Lutnick recently floated ways to raise the money, including using the Trump Platinum Card that requires payments from wealthy foreigners who want to stay in the U.S. for an extended period. He also pointed to revenue from government shares in companies like Intel.
Mr. Bessent said the dividend would be implemented responsibly.
“I think putting more money in the American people’s pocket should be an objective for everyone, and I believe there are ways to do it that would not affect the deficit,” he said.
“If Congress is needed, I look forward to meeting with Speaker Johnson,” the secretary said. “If not, then not.”
Challenged by Democrats on how this would play out, the secretary said he was not ready to discuss specific methods for paying out the dividends.
“I believe there are ways to do it without increasing the debt or deficit,” Mr. Bessent said. “That is in process right now.
Likewise, Mr. Johnson on Tuesday said the GOP already put money into Americans’ pockets through its policies but declined to say how the $5,000 checks would be paid.
“We haven’t had time to process that,” Mr. Johnson said at a press briefing by House GOP leaders. “It takes a long time to build consensus around these things, and that’s a big idea that’s going to take a lot of process, and we’ve begun some of that process right now.”
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