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US President Donald Trump said that if the Republican Party maintains majority in both the House of Representatives and the Senate in the November midterm elections, then every adult American will be given $ 5000 (about Rs 4.2 lakh).
“If the Republicans win both the House of Representatives and the Senate, you will get $5,000,” Trump said at the Republican convention in Dallas. He called it the ‘Trump Dividend’ and said it would be given because of America’s “economic strength and success.”
Trump said that the dividend amount will have to be spent in America only. However, he did not tell from where the money would come from, what would be the scope of payment and how the amount would be distributed.
Trump addressed the Republican convention in Dallas on Wednesday night.
The plan will cost more than $1 trillion
The plan to give $5,000 to every adult American would cost the government more than $1 trillion. Congress’s approval will be necessary to implement this.
This proposal has come at a time when America’s annual budget deficit is about $1.8 trillion. Distributing such a huge amount may increase concerns about government deficit and inflation.
America’s national debt crossed $40 trillion for the first time last month.
Vice President Vance said – the rich will not get money
About an hour after Trump’s announcement, Vice President JD Vance said that rich people will not benefit from the dividend.
Vance indicated that tariff revenue from the government could be used to make this payment. However, the amount of money received from the tariff is far less than the estimated cost of paying $5,000 per adult.
The White House did not immediately respond to questions about the plan’s cost, eligibility and payment process.
Trump has already proposed direct payment
Trump has also talked about giving money directly to American citizens before. Earlier this year he proposed a dividend of $2,000. At that time he had said that Congress’s approval would not be necessary for this.
Last year, Trump paid $1776 to American soldiers, which he called ‘Warrior Dividend’.
Republican Senator Bernie Moreno said after Trump’s announcement that he would prepare a bill to implement the ‘Trump Dividend’ immediately after the November 3 election.
Challenge for Republicans to save majority in midterms
Midterm elections in America take place two years after the presidential election. In this, elections are held for all the seats of the House of Representatives and about one-third of the seats of the Senate.
This time the Republicans are trying to save their very slight majority in the House of Representatives. The party is also facing challenge in the Senate.
Trump has often said that in the modern era, the president’s party usually loses congressional seats in midterm elections. In Dallas, he said he wanted to change that tradition. “We’re going to change it. There’s no reason for this to happen,” he said.
The news is updating…
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