From Valleynewslive · · 1m 10s
Bessent pressed on Trump’s $5,000 checks
Lawmakers questioned how the Trump administration would fund proposed dividend checks without adding to federal debt.
In brief
Lawmakers questioned how the Trump administration would fund proposed dividend checks without adding to federal debt. Trump’s proposed $5,000 checks still lack a public funding plan, and Congress would need to authorize the spending. Originally reported by Valleynewslive.
Bessent faces Congress
Treasury Secretary Scott Bessent appeared before the House Financial Services Committee to defend the Trump administration’s economic policies.
“defending the Trump administration’s economic policies”
Inflation questions widen
The hearing was formally about the international financial system, but lawmakers used it to press Bessent on inflation, the economy, and federal borrowing.
“lawmakers also grilled the Treasury Secretary about inflation and the economy”
A costly promise
Trump recently said sending Americans a $5,000 check was a good idea. He did not explain how the government would pay for it.
“sending Americans a five thousand dollar check is a good idea”
Vargas demands details
Rep. Juan Vargas asked whether the payments would raise the deficit or debt. Bessent said Treasury believes there are ways to avoid both.
“there are ways to do it without increasing the debt or deficit”
Plan still hidden
When Vargas pressed for specifics, Bessent said the work was still underway and he was not ready to discuss the details publicly.
“I’m not ready to discuss at present”
Clock is shrinking
Trump has tied rebates to tariff revenues before, but Congress has few legislative days left to act on large initiatives this term.
“just a handful of legislative days left”
What to remember
Trump’s proposed $5,000 checks still lack a public funding plan, and Congress would need to authorize the spending.
