In early November, President Trump mentioned the possibility of $2,000 rebate checks for Americans, funded by tariff revenues. However, when questioned about this in a recent interview, he initially appeared to draw a blank before stating that the administration aimed to issue the checks “toward the end of the year.” This followed a November Truth Social post where he outlined the plan, claiming substantial tariff income would facilitate the payouts. While the administration maintained the funds, Treasury Secretary Scott Bessent had previously cast doubt on the plan, suggesting that Americans save the money to avoid inflation.
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During a recent interview, President Trump seemed to forget his promise of $2,000 checks for Americans funded by tariff revenue. He later admitted to making such a promise on social media in November 2025. Despite claiming “Trillions of Dollars” in revenue, actual tariff revenue for 2025 was significantly lower. Though the checks have yet to materialize, the administration did make a symbolic payment to military personnel, misrepresenting its source. When pressed about further checks, Trump suggested they might be issued towards the end of the year.
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Federal revenue in recent years has been around $4.7 trillion, with customs fees typically accounting for only about 2% of that total. Even if tariff revenue were to double or even double again, it would still represent a small fraction of the overall federal revenue. The majority of federal revenue comes from personal income tax (about half) and payroll taxes (about a third), dwarfing the impact of tariff revenue. The lack of these crucial figures in the original article obscures the true scale of the revenue sources.
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President Trump’s proposed “External Revenue Service” would replace income taxes with tariffs, theoretically funding the government through levies on imported goods. This plan aims to eliminate income taxes for those earning under $200,000 annually. The idea draws historical parallels to the pre-income-tax era when tariffs were a primary government revenue source. Trump projects this shift as a significant financial boon for American citizens.
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John Q. Hosedrinker