President Donald Trump has clarified who stands to receive a pay day from the US government, and which group will miss out.
The POTUS has mentioned the possibility of a tariff dividend payment for millions of Americans, but until now, he hasn't specified who would get a cut of the cash.
For those not in the know, a dividend is the distribution of profits by a corporation to its shareholders - so in this instance, Trump is promising to send American citizens rebate checks for the tariffs that his administration has collected, CNN explains.
Trump has elaborated further on his plan on the Truth Social network, sharing another update on the scheme yesterday (9 November).
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He has previously revealed that the money will be funded by revenues collected from his controversial tariff scheme, which has caused upset and tension with many world leaders.
Trump has now gone one step further, posting: "A dividend of at least $2,000 a person (not including high-income people!) will be paid to everyone."
It is the first time he has specified that 'high-income people' will be excluded from the scheme.
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In the same post, he added: "People that are against Tariffs are FOOLS!”
According to Business Insider, back in October, Trump referred to a 'distribution to the people' but guessed it would be between $1,000 to $2,000.
It followed Missouri Senator Josh Hawley floating a similar idea.
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Sen. Hawley suggested a rebate of $600 to almost every American, plus their dependent children. However, before anyone gets their hopes up, the legality of the president’s tariffs is still being examined.
Trump has argued that they are valid and permitted under the International Emergency Economic Powers Act, but many argue against it.
He also said in the Truth Social post that funds from the tariffs 'will soon begin paying down our ENORMOUS DEBT' and that the revenue can only be a good thing.
So far in 2025, the Treasury has collected a whopping $195 billion in tariff duties, according to an official department report.
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Many experts believe that in order for Trump to pay the promised dividends, he will need congressional approval. However, the government is still in the middle of a shutdown over a financial dispute about the Affordable Care Act.
The shutdown has become the longest in US history.
Trump also posted on Truth Social, blaming the Democrats for this ongoing complication, which is forcing many Americans to be furloughed or to work without pay.
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Many are also using food stamps or struggling to pay bills.
The promise of $2,000 would be gratefully received by many, but it remains to be seen whether Trump can actually pass it by Congress once the legalities of the tariffs have been examined.
Topics: Donald Trump, Money, US News
Jen Thomas