President Donald Trump pledged a $5,000 “Trump dividend” for every American adult Wednesday, reviving the same playbook that sent Bitcoin (CRYPTO: BTC) surging 5% the last time he tried it.
What Trump Actually Proposed
According to the New York Times, Trump told the Dallas convention crowd that every American adult would receive a $5,000 check if Republicans keep control of Congress in November, calling it the “Trump dividend.”
He added that recipients must spend the money inside the United States. The proposal would cost roughly $1.2 trillion based on about 240 million eligible adults, though Trump provided few details on funding the plan or securing congressional approval.
Meanwhile, legal experts told the Times that Trump would almost certainly need Congressional approval, pointing to the Constitution’s requirement that Congress holds sole spending authority.
