US Commerce Secretary Howard Lutnick affirmed that a proposed USD 5,000 payment to every adult American, contingent on a Republican victory in the November midterm elections, would not be funded by taxpayer money. "We will implement that plan together and pay this money to the American people, not take it from their taxes. Absolutely no taxpayer money will be used", Lutnick stated in a 10/9 interview, addressing President Donald Trump's pledge.
If realized, Trump's proposal would distribute approximately USD 1.3 trillion to about 270 million adult Americans. Secretary Lutnick explained that the administration could "create the funds President Trump wants to pay, not from budget deficits or taxpayer money".
When questioned about specific funding sources, Lutnick cited the upcoming "Trump Platinum Card" program. Under this mechanism, immigration applicants on a waiting list would be permitted to reside in the US for 270 days each year without paying taxes on income earned outside the US.
In return, applicants would pay a USD 15,000 processing fee, pass the Department of Homeland Security's security vetting process, and contribute an additional USD 5 million to the US government to secure citizenship.
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US Commerce Secretary Howard Lutnick at the White House on 31/8. Photo: AP |
US Commerce Secretary Howard Lutnick at the White House on 31/8. Photo: AP
"We have a waiting list of over 100,000 people who want to come to the US. That figure equates to USD 500 billion", Lutnick noted.
He also mentioned the federal government's investment in Intel last year as another potential funding source. According to President Trump, this investment has generated over USD 30 billion in value over the past few months.
"Everyone knows we hold about 500 million shares, which were USD 20 each at the time and have now risen to USD 100, meaning we have made a profit of USD 50 billion", Lutnick stated.
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US President Donald Trump (right) and Commerce Secretary Howard Lutnick next to a model of the "Trump gold card" at the White House in 9/2025. Photo: Reuters |
US President Donald Trump (right) and Commerce Secretary Howard Lutnick next to a model of the "Trump gold card" at the White House in 9/2025. Photo: Reuters
Kevin Hassett, director of the White House National Economic Council, also suggested on 11/9 that funds for the President's proposal could come from a budget adjustment package.
The proposal has caused division within the Republican Party, with Florida Governor Ron DeSantis criticizing it and highlighting the growing national debt as a major drawback.
"I believe we should not borrow an additional USD 1.5 trillion and then try to inject that money into the economy, because that would lead to increased inflation", DeSantis said.
Senate Democratic Leader Chuck Schumer remarked that Trump's presidency had been "so failed and chaotic that he had to try to buy votes from the people".
Ngoc Anh (According to Hill, AFP, AP)
