During his recent speech at the Republican midterm convention in Texas, President Donald Trump promised a $5,000 dividend to every American adult if his party won the upcoming elections. The idea was to boost voter turnout, but experts quickly pointed out that such a scheme would cost a staggering $1.2 trillion – more than the country’s total tariff revenue over a decade.

President Trump’s promise, dubbed the “Trump Dividend,” echoes previous claims of issuing a “DOGE dividend” or a $2,000 tariff check, which never materialised. The Republican National Committee, however, remains concerned about turnout, with voter engagement likely to suffer as Trump won’t be on the ballot this time around.

Vice President JD Vance attempted to soften the claim, asserting that the dividend wouldn’t go to wealthy Americans and could be funded by tariff revenues. However, the shortfall remains significant, with the administration having to refund about $160 billion in tariffs, plus interest.

The political landscape is complicated by the fact that any realisation of the offer would require congressional approval, which seems unlikely given the current financial constraints. Critics, meanwhile, lambaste the proposal as an attempt to bribe voters and put the country into even greater debt.