Sen. Bernie Moreno, R-Ohio, plans to introduce legislation aimed at codifying former President Donald Trump's proposal for $5,000 dividend checks for Americans. The proposed checks would be funded by imposing structural tariffs, termed "market access fees," on goods sold in the U.S. from foreign companies, and would be restricted to spending within the United States.
Moreno stated that the dividend aims to allow working Americans to share in the nation's prosperity and provide an economic boost. "So, if you're a company out there, anywhere in the world, you want to sell your products in America, you either make it here in the United States, or you pay a fee to enter our market," Moreno explained. "That money goes to funding this one-time dividend."
Trump floated the idea during a Republican convention in Dallas, where he highlighted the proposal as a means to provide relief to working families struggling with economic conditions. Moreno argued that despite Republican efforts to lower costs, families are still facing financial strain, and the dividend would help level their economic standing.
The potential cost of this plan is estimated to be as high as $1.2 trillion. For the legislation to advance, Republicans would need to maintain control of both chambers of Congress. The proposal comes as the national federal deficit has reached $40 trillion and as the Republican party positions itself as fiscally responsible.
House Freedom Caucus Chairman Andy Harris, R-Md., expressed support for the concept, suggesting that American taxpayers deserve relief. He indicated that such a plan would likely require the budget reconciliation process to bypass potential Democratic opposition.
Senate Majority Leader John Thune, R-S.D., acknowledged the proposal, stating it "smells very much like a reconciliation issue." He added that Senate Republicans would be open to working with Trump's team on the dividends, noting that the idea presented a contrast between Republican and Democratic approaches to governance.
Democrats have voiced strong opposition to the plan. Rep. Robert Garcia, D-Calif., dismissed the proposal, calling Trump a "liar" and asserting that "the dividend is not happening." Senate Minority Leader Chuck Schumer, D-N.Y., criticized the move as an attempt to "bribe the American people for their votes," calling it an "insult to Americans, to democracy."
Moreno countered Democratic criticisms by accusing them of hypocrisy, arguing that Democrats readily support funding foreign countries and wars but are unwilling to allocate funds to aid American working families. "They love giving money to foreign countries. They love funding endless wars. They love having us solve the entirety of the world's problems. When it comes to helping working Americans, all of a sudden, there's no money," Moreno said.