Bessent says Treasury is seeking ways to deliver Trump's $5,000 dividend without adding to deficit

Treasury Secretary Scott Bessent told lawmakers on Tuesday that the US Treasury is examining whether the Trump administration can give Americans a $5,000 dividend without going through Congress, and he believes there is a way to do it without adding to the deficit.

Testifying before the House Financial Services Committee, Bessent said Treasury officials have been developing the proposal for some time, though he declined to provide specifics on how the plan would be funded without driving up the nation's debt.

"That is in process right now," Bessent said. "I'm not ready to discuss it at present, but at Treasury, we've been working on it for quite a while."

"I think putting more money in the American people's pocket should be an objective for everyone, and I believe there are ways to do it that would not affect the deficit," he added.

If executive action isn't legally viable, Bessent said, the administration is prepared to take the legislative route. "If it becomes clear that we need congressional authority, I will meet with [House Speaker Mike Johnson], and I look forward to it."

At a Republican gathering in Dallas last week, President Trump promised to give every American a $5,000 "Trump Dividend" if the Republican Party wins in the midterms and maintains control of both the House and the Senate.

Analysts have estimated that sending a $5,000 check to every adult would cost 1.3 trillion.

Jennifer Schonberger is a veteran financial journalist covering markets, the economy, and investing. At Yahoo Finance, she covers the Federal Reserve, Congress, the White House, the Treasury, the SEC, the economy, cryptocurrencies, and the intersection of Washington policy with finance. Follow her on X @Jenniferisms and on Instagram .