Donald Trump's proposal to send Americans $5,000 checks if Republicans win control of Congress in the November midterms has drawn sharp criticism from lawmakers and economists, who question its feasibility and potential economic impact.
The plan, unveiled by the former president, faces immediate skepticism from members of Congress, who hold the constitutional authority over federal spending. Economists and other observers are raising concerns about its potential effects on inflation and the national balance sheet.
Trump has previously suggested using savings from a Department of Government Efficiency and revenue from tariffs on foreign imports to fund payments of $2,000 or more, but these initiatives did not materialize. The current economic climate, marked by persistent inflation and rising interest rates, adds another layer of concern to his latest proposal.
Trump suggested in an interview that congressional approval might not be necessary for the payments, though he did not detail how such a large expenditure, potentially exceeding $1.3 trillion, could be made without legislative authorization. He later described the proposed payments as a "reward" for citizens enduring the current economic conditions.
Some Republican allies have voiced support for the idea. Sen. Bernie Moreno indicated he would draft legislation for the payments, and Rep. Tim Walberg called it good economic policy if feasible, stating that "the American taxpayer deserves the benefit of having more in their pocket than the government."
However, critics accused Trump of attempting to buy votes. Rep. Thomas Massie, a Republican, wrote on social media that he was "insulted by the notion that my vote this November could be bought for 5k," also noting the potential for inflation.
Rep. Ted Lieu, vice chairman of the House Democratic caucus, mocked the proposal, suggesting that Democrats would offer even more extravagant, albeit fictional, benefits if they gained control of Congress.
The potential cost of Trump's proposal, if $5,000 were distributed to an estimated 270 million adults, would exceed $1.3 trillion. This figure approaches the projected $1.27 trillion in interest expenses for fiscal year 2026, while the U.S. Treasury is already facing an annual deficit nearing $1.8 trillion and a national debt exceeding $40 trillion.
Economists have warned of inflationary consequences. Michael Strain, director of economic policy studies at the American Enterprise Institute, compared Trump's plan to President Biden's 2021 pandemic relief package, which provided $1,400 payments to most Americans. Strain argued that Trump's proposal would be more damaging because the economy is already grappling with inflation, likening it to "pouring gasoline on lit inflationary embers."
Marc Goldwein, senior policy director at the Committee for a Responsible Federal Budget, echoed concerns about the deficit, stating, "The idea that we’ve had fiscal success is backwards and bordering on laughable."
Financial markets showed little positive reaction, with interest rates on 10-year U.S. Treasury notes rising above 4.9%, which could lead to increased costs for mortgages and auto loans.
The proposal also places many Republicans in a difficult position, given their past criticisms of Democratic spending. Some Republican officials have recently attributed current price levels and consumer concerns to the Biden administration's fiscal policies.
Legal and constitutional experts note that, under current understanding of the law, a president generally needs Congress to pass legislation to disburse such funds.