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Plus, special edition NP Platformed and First Reading newsletters and virtual events.Unlimited online access to National Post.National Post ePaper, an electronic replica of the print edition to view on any device, share and comment on.Daily puzzles including the New York Times Crossword.Support local journalism.Create an account or sign in to continue with your reading experience.Access articles from across Canada with one account.Share your thoughts and join the conversation in the comments.Enjoy additional articles per month.Get email updates from your favourite authors.Create an account or sign in to continue with your reading experience.Access articles from across Canada with one accountShare your thoughts and join the conversation in the commentsEnjoy additional articles per monthGet email updates from your favourite authorsSign In or Create an AccountorThe pledge has raised questions about its legality, its cost and where the money would come from.Federal law prohibits offering payments in exchange for votes and separately restricts promises of federally funded benefits in return for political support.Trump’s offer would appear to skirt these prohibitions because it is more in the nature of a campaign promise and would apply to all adult Americans regardless of how they voted.Get a dash of perspective along with the trending news of the day in a very readable format.By signing up you consent to receive the above newsletter from Postmedia Network Inc.A welcome email is on its way. If you don't see it, please check your junk folder.The next issue of NP Posted will soon be in your inbox.We encountered an issue signing you up. Please try againAny such payment would in any case require congressional authorization, as the U.S. Constitution bars the president from spending Treasury funds without an appropriation made by law.But Trump told CBS News Texas he did not think Congress would need to approve the payments, without going into details.Trump has made similar pledges in the past which never came about, including promising Americans US$2,000 checks from tariff revenues and US$5,000 checks from savings made from drastic federal job cuts.There are about 276.8 million adults aged 18 and over in the United States, according to Congressional Budget Office data, and doling out US$5,000 to each would come to US$1.384 trillion.Trump said he was targeting “every American.” Restricting the payments to U.S. citizens would reduce that figure to about US$1.27 trillion.During the COVID pandemic, Congress approved payouts to income-eligible tax filers and their dependents only, a narrower approach that would lower the cost further.The three rounds of pandemic stimulus checks approved in 2020 and 2021 came to about US$814 billion in total, according to federal oversight data.Almost certainly. This is a serious problem for Trump as he faces voter anger over costs of living.Direct cash handouts of this kind are sometimes described by economists as “helicopter money” — a term for no-strings-attached payouts from a central bank, meant to jolt an economy out of deflation, the opposite of the price pressures the United States faces now.U.S. consumer inflation is running at 3.4 per cent, well above the central bank’s two per cent long-term target. Injecting roughly US$1.27 trillion into consumer hands would stir demand in an economy where prices are already rising, partly because of the energy shock from the Iran war.Research published by the Federal Reserve Bank of St. Louis estimated that pandemic-era fiscal stimulus, which also included support for businesses, added about 2.6 percentage points to U.S. inflation.Not anytime soon. The government collected a record US$195 billion in customs duties in fiscal 2025, meaning a US$1.4 trillion payout would consume roughly seven years of revenues from Trump’s trade policies.Moreover, the Supreme Court struck down many of Trump’s tariffs in February, forcing the U.S. Treasury to refund importers with interest, and net customs revenue turned negative in May through July.The Tax Foundation, a right-leaning think tank, estimates that spending over US$1 trillion on a new one-time payment program “would balloon the deficit to nearly US$3 trillion,” even with revenue from Trump’s remaining tariffs.Democratic reaction to Trump’s proposal was withering.California Governor Gavin Newsom, a potential 2028 Democratic presidential candidate, condemned the pledge as coming from “the most corrupt man ever to occupy the Oval Office.”“After making you sicker and poorer with his war, Donald Trump now wants to buy your vote with US$5,000 in taxpayer-funded blood money,” Newsom said on X.Representative Jamie Raskin, a Democrat from Maryland, said Trump’s pledge was just the latest move in a “fantastically reckless and dysfunctional presidency.”“So after adding trillions of dollars to the national debt, driving it over an unprecedented US$40 trillion, Trump now offers everyone a US$5,000 political bribe (“the Trump Dividend”) if we elect Republicans to run Congress,” Raskin said.Our website is the place for the latest breaking news, exclusive scoops, longreads and provocative commentary. 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