President Trump May Soon Issue Rebate Checks!

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Okay, everyone likes free money!

President Trump has suggested he may issue rebate checks to qualifying Americans.

Trump announced the possibility of a rebate check after the U.S. had raked in billions from new tariff revenues.

Trump did note that he is focused on paying down the U.S. debt, which may prevent the rebate checks from being sent out.

CBS News reported more on the rebate:

President Trump on Friday said he’s considering issuing rebate checks for Americans based on the billions in new tariff revenue collected by his administration.

“We’re thinking about a little rebate. But the big thing we want to do is pay down debt. But we’re thinking about a rebate,” Mr. Trump said in comments to reporters before he left for a four-day visit to Scotland.

Federal debt, which currently stands at more than $36 billion, is projected to rise due to the new tax cuts and spending bill signed into law by Mr. Trump on July 4, according to forecasts from economists and public policy think tanks. The nation’s deficit could rise by $3.4 trillion over the next 10 years because of the impact of the One Big Beautiful Bill Act, the Bipartisan Policy Center said, citing estimates from the nonpartisan Congressional Budget Office and the Joint Committee on Taxation.
Mr. Trump added that the rebate could be “for people of a certain income level,” although he didn’t specify the threshold that he’s considering.

The federal government has collected about $100 billion in tariff revenue since the Trump administration instituted its higher import duties earlier this year, which could increase to $300 billion per year, Treasury Secretary Scott Bessent told Fox Business’ “Mornings with Maria” on Tuesday.

Trump’s tariffs led to the United States having its first surplus in June since 2017.

CNBC reported more on how Trump’s tariffs led to a surplus:

The U.S. government posted a surplus in June as tariffs gave an extra bump to a sharp increase in receipts, the Treasury Department said Friday.

With government red ink swelling throughout the year, last month saw a surplus of just over $27 billion, following a $316 billion deficit in May.

That brought the fiscal year-to-date deficit to $1.34 trillion, up 5% from a year ago. However, with calendar adjustment, the deficit actually edged lower by 1%. There are three months left in the current fiscal year, which ends Sept. 30.

A 13% increase in receipts from the same month a year ago helped bridge the gap, with outlays down 7%. For the year, receipts are up 7% while spending has risen 6%.
The government last posted a June surplus in 2017, during President Donald Trump’s first term.

Increasing tariff collections are helping shore up the government finances.

[H/T We Love Trump]



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