WASHINGTON – President Trump suggested on Friday that some Americans might receive a “rebate” from the federal government. This follows the U.S. Treasury Department collecting $64 billion in tariff revenue in the first three months after the announcement made on April 2 regarding the “liberation date.”
“We’re looking at a little rebate for people at certain income levels since we’re bringing in a lot of money from the tariffs,” Trump shared with reporters as he was leaving the White House for a five-day trip to Scotland.
At 79 years old, Trump didn’t specify who would qualify for these government payments, and the White House wasn’t immediately available for further questions.
For any federal payments to be issued, they require Congressional approval. Currently, the House of Representatives will not be in session until September 2, while the Senate expects to take legal action next weekend.
During the COVID-19 pandemic, the government sent out three stimulus checks aimed at assisting Americans impacted by extensive business closures. The first payment of $1,200 for individuals earning up to $75,000, and $2,400 for couples, was distributed in March 2020, followed by others under the Biden administration’s American Rescue Plan in March 2021.
In total, the $814 billion federal relief fund was allocated across these three rounds of support. In early 2008, a failed effort to mitigate a recession saw most taxpayers earning less than $75,000 receive $300 each, or $600 for couples.
Ej Antoni, chief economist at the Heritage Foundation, expressed skepticism about the likelihood of taxpayers receiving more money, saying, “While it may be politically appealing to give money to constituents, the federal government really doesn’t have those funds available right now.”
He also noted, “The real ‘rebates’ for Americans will manifest as reduced inflation resulting from a lower federal deficit,” suggesting that this could be a more effective means of addressing the current living costs crisis.
Trump announced a 10% baseline tariff during the “liberation date” announcement and set a deadline of August 1 for the country to finalize a one-to-one trade agreement with the U.S. or face increased obligations.
The White House is negotiating with several countries, including the UK, Japan, and Australia, and has a preliminary agreement with China. However, many major trading partners still have contracts with the European Union, Mexico, Canada, Brazil, and South Korea.
According to Treasury data released earlier this month, the government has so far raised $64 billion in tariffs. Treasury Secretary Scott Bessent and White House trade advisor Peter Navarro anticipate total trade revenues could reach $300 billion.
