Why Scott Bessent wants Americans to ‘save’ the $2,000 tariff check
Treasury Secretary Scott Bessent said that the planned $2,000 “tariff dividend” should not be treated like immediate stimulus spending.
Treasury Secretary Scott Bessent on Tuesday night urged Americans who may receive a proposed $2,000 payment funded by tariff revenues not to spend it. His comment comes as the White House works to sell the idea of a tariff-funded “dividend” to skeptical lawmakers and markets.
Read more: Is Trump giving Americans $2000 this month? What the tariff check plan means
What did Scott Bessesnt say?
Bessent framed the payments as one part of a broader affordability push that could include targeted tax relief and other measures.
In a Fox News interview, Bessent responded to concerns that a direct payment of this magnitude could spark inflation. He said, “Maybe we could persuade Americans to save that.”
The Big Beautiful bill introduced by the Trump administration had a section that discusses the opening of a new class of investment accounts for children born between 2025 and 2028.
The accounts are to be set up with $1,000 from the U.S Treasury. After the accounts are set up, parents may contribute to the account $5,000 a year. He emphasized the administration’s view that inflation is under control and expects real wages to rise, but acknowledged there are “perfect storm” risks for certain prices such as beef.
Read More: Trump's $2,000 tariff rebate checks update: Timeline given for direct payments
According to a National Bureau of Economic Research research, 40% of Trump's 2020 CARES Act stimulus payments were spent, 30% went toward debt repayment, and 30% were saved, Axios reported.
According to Axios, the New York Fed later discovered that the majority of later stimulus payments were likewise used for debt repayment or spending.
Tariff revenue in fiscal year 2025 was about $195 billion and is projected to be higher in 2026. Given that, it is likely funds will be insufficient to cover a $2,000 payout without drawing from other sources.
The administration has not yet put forth a measure to officially approve the checks, nor has it made clear who could be qualified, so it is unclear what comes next.
