President Donald Trump has reiterated his promise to provide $5,000 checks to Americans if Republicans maintain control of Congress. One proposed funding source suggests wealthy foreigners contribute $5 million each to the federal government.

Trump’s Commitment

Commerce Secretary Howard Lutnick indicated that these checks would not use taxpayer funds nor increase the deficit. He highlighted the upcoming Trump Platinum Card program as a potential revenue source. Over 100,000 people have reportedly joined a waiting list for this program, potentially generating $500 billion.

Details of the Proposal

Trump emphasized this promise on Truth Social, labeling it the “Trump Dividend”. He criticized Democrats who accused him of attempting to sway votes for the upcoming election.

The proposal is projected to cost approximately $1.23 trillion, based on the number of eligible adult U.S. citizens. Excluding wealthy Americans from receiving the checks has been suggested, though no income cap has been officially announced.

Funding Challenges

The Trump Platinum Card, described as “coming soon,” allows foreign nationals to stay in the U.S. for up to 270 days per year without U.S. tax obligations on non-U.S. income. The card’s proposed financial model depends on 100,000 participants paying $5 million each. However, this would only cover about 41% of the proposal’s estimated cost.

To fully fund the initiative through Platinum Cards, over 246,000 people would need to make $5 million contributions. The current waiting list does not guarantee these contributions.

Alternative Funding Ideas

Vice President JD Vance and other officials have mentioned tariff revenue as another potential funding source. Yet, current tariff income is significantly lower than needed to cover the checks. Congressional Budget Office data shows $167 billion in tariff collections for the current fiscal year, indicating that it would take over six years to fund the proposed checks through tariffs alone.

Trump’s administration also cited an investment in Intel, with potential share gains for the government, as a funding avenue. However, comprehensive funding requires congressional authorization due to existing federal deficits.

Historical Context

Trump has previously suggested similar dividends, such as the “DOGE Dividend” and a proposed $2,000 tariff dividend, but neither was implemented.

Opposition from Democrats

Several Democrats have criticized the proposal. Senate Minority Leader Chuck Schumer accused Trump of trying to influence voter decisions with financial incentives. Representative Robert Garcia highlighted historical unfulfilled promises as evidence of the proposal’s improbability. California Governor Gavin Newsom and Representative Dan Goldman also condemned the plan, labeling it unethical and potentially illegal, as congressional approval is necessary for such spending.