Taxes wouldn’t fund $5,000 Trump ‘dividend’ if Republicans win midterms, says commerce secretary
Lutnick said $500bn of estimated $1tn needed to fund checks to all US adults could come from new visa program
TL;DR
- Commerce Secretary Howard Lutnick claims Trump's $5,000 'dividend' proposal would not use tax money.
- Potential funding sources include a new program charging wealthy visitors for visa extensions, estimated to raise $500 billion.
- Government investments, like in Intel, which has appreciated in value, are also cited as a possible source.
- Trump suggested tariff revenue could partially fund the dividend, called 'the Trump dividend'.
- The proposal has faced criticism due to the US national debt exceeding $40 trillion.
- Other officials, like Kevin Hassett and JD Vance, have proposed alternative funding methods, but some face legal hurdles.