President Donald Trump’s proposal to give Americans rebate checks funded by tariff revenue is running into a wall of opposition — and not just from Democrats. Last month, Trump floated the idea of a “little rebate,” with GOP Senator Josh Hawley suggesting it could take the form of a $600 tax credit for every American, similar to the COVID-era stimulus checks.
But many Republicans are pushing back hard, warning the plan could backfire. Critics say it would eat up nearly all the $164 billion tariffs have generated this year, wiping out the intended fiscal benefits. Key Trump allies, like Senator Bernie Moreno, blasted the idea as “insane,” citing the nation’s $37 trillion debt and warning it could fuel inflation. Others, including Senators Roger Marshall and James Lankford, see little need for rebates, claiming tariffs aren’t hurting everyday Americans.
The White House says it’s exploring “multiple options” for the revenue, but skepticism is growing fast. The plan is now drawing comparisons to past headline-grabbing ideas — like the failed “DOGE dividends” tax credit — that never made it past the talking stage. For now, Trump’s tariff rebate may be more political theater than economic reality.
No comments:
Post a Comment