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President Donald Trump has issued a major update on the $2000 tariff payment that he promised to almost every American earlier in the year.
Millions of Americans are waiting for an update regarding the proposed $2,000 tariff dividend payment that the President promised to almost every citizen earlier this month.
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While many took the statement with a pinch of salt, others commend Trump as a man who sticks to his word.
New information has been circulating about the proposed payment, particularly how it relates to people who are, and aren’t married.
Of course, the details aren’t totally clear, but it seems that updates are coming to light bit by bit.
But Trump has now issued a major update on the payment.
Donald Trump’s $2,000 payment
In a post on his Truth Social platform on November 9, the President said: “People that are against Tariffs are FOOLS!
“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.
“A dividend of at least $2000 a person (not including high income people!) will be paid to everyone.”
The statement came as a shock to many, after the administration already said it would use the tariff revenue to either pay for existing tax cuts or to reduce the federal debt.
Many people have raised concerns about whether the payment is a good idea, or whether it will ever come to fruition at all.
Who is eligible?
It’s currently not been made totally clear who is eligible for the payment, despite the President stating that the payment will not be given to ‘high income’ people.
Trump has since noted that the payment will be made to individuals of ‘moderate income.’
It seems the government has been drip-feeding more details as to when the checks could arrive, how much they might be, and who will be getting them.
Treasury Secretary Scott Bessent has noted that the payment could take many different forms.
He noted: “It could come in lots of forms, in lots of ways.
“You know, it could be just the tax decreases that we are seeing on the president’s agenda.
“You know, no tax on tips, no tax on overtime, no tax on Social Security, deductibility of auto loans. So, you know, those are substantial deductions.”
What are tariffs costing Americans?
Tariffs are already costing Americans money, as per PBS News.
They have estimated that the cost ranges from about $1,600 to $2,600 a year per household.
Given the similarity between this cost, and Trump’s proposed payment, it’s been suggested that it may be more efficient to remove the tariffs.
What does it mean for couples?
SSA expert Blind to Billionaire released an insightful video, explaining the exact details.
In the helpful clip, he said: “It is based on your income – that’s it.
“I’ll make it very clear here, is your income below $75,000 a year, as an individual, yes or no?
“That’s it – that’s all you need to know.
“If your answer is yes, you are most likely eligible for this.”
He added: “Generally, the threshold they put in place for income is $75,000 as an individual, $150,000 dollars as a married couple.”
So it seems that whether you are married or not, individuals will still be eligible as long as they are within the income threshold.
It’s also not been made clear whether the payment will be issued to children too.
In another wild claim, Trump told reporters in July: “We have so much money coming in, we’re thinking about a little rebate but the big thing we want to do is pay down debt.
“We’re thinking about a rebate.”
What is the update?
The President has issued a significant update about the tariff payment, and this time, it concerns how the money will actually be funded.
According to some estimates, the whole thing would cost $600 billion to fund.
And the tariffs that Trump placed on foreign imports in April have currently raised $90 billion – meaning that the gap is quite large.
Speaking on Truth Social, Trump promised that tariff revenue would ‘skyrocket’ soon, helping to fund his master plan.
He explained: “The full benefit of the tariffs has not yet been calculated in that many of the buyers of goods and products, in order to avoid paying the tariffs in the short term, ‘STOCK UP’ by purchasing far more inventory than they can use.
“We are already the ‘hottest’ country anywhere in the world, but this tariff POWER will bring America national security and wealth the likes of which has never been seen before.”
