Trump Pledges $5,000 Payments to US Adults if GOP Holds Congress
Trump promised $5,000 to every US adult if Republicans keep Congress, while saying high oil prices from the Iran war may not ease until after the midterms.
President Donald Trump pledged on Wednesday to send every American adult $5,000 if Republicans retain control of the House and Senate in the midterm elections, a proposal he framed as a reward for his party's economic record.
Speaking at the Republican midterm convention in Dallas, Trump said the payment would be called the "Trump Dividend" and compared it to a corporation distributing returns to its shareholders, pointing to what he described as the country's economic strength.
The pledge carries significant fiscal implications. It would likely cost more than $1 trillion and would require congressional approval. It would also deepen the country's annual budget deficit, which stands at nearly $1.8 trillion, and add to existing concerns about inflation.
Within an hour of the announcement, Vice President JD Vance appeared to partially walk back the proposal, suggesting the payments would not go to wealthy Americans. Vance indicated the dividend could be funded through US tariff revenues, though the scale of the proposed payout far exceeds what those measures have collected.
Criticism also came from within the president's own camp. Joe Londsdale, a prominent Republican donor and activist, wrote on X that while he strongly supports winning the midterms, he is "strongly against bread and circus bribes."
Oil prices and the Iran war
In remarks to reporters before departing for Dallas, Trump said oil prices that have risen amid the war with Iran are unlikely to fall until after the midterm elections.
"Right after the election, oil prices are going to be tumbling downward," he said, adding that he believed the decline would take "a little bit longer than the midterm." He also said he expects Iran to eventually relent once the elections are held.
The comments amounted to a notable acknowledgment of the conflict's economic toll, as his administration faces growing pressure over high gasoline prices while the war grinds on without resolution. On Wednesday, oil prices jumped more than 3%, pushing international Brent crude above $100 a barrel for the first time since July as exchanges between the US and Iran escalated.
Democrats counter in Dallas
Democrats were also present in Dallas as Republicans gathered, seeking to argue that the reality of Trump's second term does not match the spectacle of the convention.
"This bizarre Republican midterm convention here can't paper over the fact that Republicans have done nothing to earn your vote," Illinois Governor JB Pritzker, a potential 2028 presidential contender, said on Wednesday morning.
Several leading House Democrats traveled to Dallas for related events, and Texas Democrats hoped the attention on the state would benefit their candidates. James Talarico, a state lawmaker running against Attorney General Ken Paxton in a closely watched Senate race, held a food drive at Friendship West Baptist Church in Dallas, contrasting the volunteers' work with the Republican festivities.