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 state whether congressional authorization would be required; if it is, he said he would work wi

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 state whether 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.