Treasury Secretary Bessent told lawmakers Tuesday he supports President Trump’s
proposal to send $5,000 checks to U.S. adults if Republicans retain control of
both chambers. He downplayed cost concerns, saying he believes the payments can
be arranged without increasing the fiscal deficit, but did not identify offsets.
Bessent said the Treasury has been working on the proposal for some time and did
not whether state congressional authorization would be required; if it is, he
said he would work with House Speaker Johnson to advance it. Markets have
growing concern over rising U.S. government debt. The plan, promised by Trump
less than a week earlier, is estimated to cost more than $1 trillion.
