Bessent Responds to Trump’s Tariff Refund Promise

Treasury Secretary Scott Bessent recently addressed President Donald Trump’s proposal regarding tariff refund checks. On Sunday, Trump announced via Truth Social that funds generated from tariffs would be used to provide a dividend of at least $2,000 to every American, excluding high-income earners. However, Bessent clarified during an appearance on “Fox & Friends” that no official decision has been made about issuing these checks.

“There are multiple options the president is considering, including those $2,000 rebates for households earning under $100,000,” Bessent told Brian Kilmeade. When asked if the government had already made plans to distribute the checks, Bessent replied, “We’re not doing that. We’re not doing that. That’s still under discussion.”

After Trump’s announcement on Truth Social, Bessent also spoke on ABC News’ “This Week,” stating that he hadn’t previously discussed the matter with Trump and mentioned that any dividends could be provided in various forms. “Tax cuts might be all that’s on the president’s agenda,” he remarked, listing potential deductions, including no tax on tips, overtime, Social Security, or car loan credits.

Trump reiterated his plans in the Oval Office, mentioning that they intended to distribute roughly $2,000 in dividends to middle and low-income individuals, with remaining tariff funds aimed at reducing national debt.

Bessent has also indicated that the administration plans to use tariff income for debt reduction, which echoes Trump’s previous statements about effectively addressing America’s substantial debt. In the first three quarters of 2025, the Treasury Department reported earning $195 billion from customs revenue.

During oral arguments on Trump’s tariffs at the Supreme Court, Justice Amy Coney Barrett raised concerns about how reimbursements would be managed for businesses if those tariffs were deemed unlawful, warning that such a situation could lead to chaos.