U.S. Treasury Secretary Scott Bessant said on Sunday that President Trump’s earlier proposal for a “tariff bonus of at least $2,000 per American” could be achieved through tax cuts in the landmark economic policy bill he signed earlier this year.
In a recent episode, Bessant was asked about a post Trump made on social media earlier Sunday that mocked those opposed to tariffs and said he would “pay everyone at least $2,000 in dividends.”
Trump wrote that day, "Those who oppose tariffs are fools! We are now the richest and most respected country in the world, with near-zero inflation and a record stock market. Our 401k retirement accounts are also at an all-time high. We earn trillions of dollars annually and will soon be able to begin paying off our massive $37 trillion debt."
“Investment in the United States is at an all-time high, with factories and businesses springing up like mushrooms after rain. Everyone will receive at least $2,000 in dividends (except for high-income earners!),” he added.
Bessant said he had not yet discussed the idea with Trump, but added: "This $2,000 grant could come in many forms. It could come from tax cuts that are being pursued on the president's agenda, such as tax exemptions on tips, overtime pay, Social Security, or deductible interest on auto loans."
When asked about the president's comments, Bessant elaborated on his views.
“We could gain trillions of dollars in revenue over the next few years. But the real goal of tariffs is to rebalance trade and make it fairer,” he said.
On the other hand, Trump also wrote last Saturday: "I recommend that Senate Republicans allocate funds currently used to save the terrible healthcare system under Obamacare to 'vampire' insurance ." The company allocates hundreds of billions of dollars directly to the public, enabling them to purchase better healthcare and still have money left over.
"In other words, take the money from those big insurance companies , give it to the people, and completely repeal Obamacare—the worst healthcare system in the world. We also need to end this endless debate!" he added.
In response, Bessant stated that the president's healthcare reform proposal to Senate Republicans has not yet been finalized. In an interview, he said, "We don't have a formal proposal yet. We haven't submitted a proposal to the Senate yet, no."
Bessant said any such proposal would depend on the end of the government shutdown, which would enter its 41st day on Monday.
“The president posted about it on social media, but we must get the government running again before we can take the next step. We will not negotiate with the Democrats until the government is reopened. It’s that simple,” he said.
(Article source: CLS)
