US President Donald Trump has promised a $5,000 “dividend” to every adult American if Republicans retain control of both houses of Congress in November’s midterm elections.
Speaking at the Republican Party’s first-ever midterm convention in Dallas on Wednesday, Trump argued that the US economy and revenues generated by his tariff policies would allow Washington to make direct payments to citizens.
“If the Republicans win, you win with us and you get $5,000," Trump told the cheering crowd. “It will be called the Trump Dividend.”
“The only caveat I have is that the dividend that we’re making must be spent in the United States of America,” he added.
The president did not explain how the payout would be implemented or funded. At $5,000 per adult, the plan could cost well over $1 trillion.
Trump repeatedly boasted about the amount of money flowing into the United States as a result of tariffs and foreign investment. His administration has previously claimed that more than $20 trillion in new investment is coming into the country, while Treasury officials have projected annual tariff revenues potentially reaching hundreds of billions of dollars.
The president also touted his administration’s recent oil agreement with Venezuela, which gives Washington majority control over more than 65 billion barrels of proven reserves. Trump has called plans to use Venezuelan crude to replenish America’s depleted Strategic Petroleum Reserve a “gift from Venezuela to the People of the United States.”
Trump also cast the November vote as a referendum on his own presidency.
“In 55 days, Americans will be going to the polls in one of the most important elections in our country’s history,” he said.
“When I’m on the ticket, Republicans always do well,” Trump added. “I’m asking you to pretend I’m on the ballot… Just one more time.”
The two-day Dallas convention, conceived by Trump as a campaign showcase ahead of the midterms, is the first such gathering ever held by the Republican Party outside a presidential election year. Trump is scheduled to return on Thursday to deliver closing remarks.