Trump announced the proposed “dividend” during the first night of the Republican National Committee’s midterm convention, presenting it as a benefit tied to continued Republican control of the House and Senate. He said the money would have to be spent in the United States, but did not explain how the program would be structured, whether Congress would need to approve it or when payments would be made. The proposal would apply to adult U.S. citizens rather than being limited by income under the terms Trump described.

The scale of the proposal would make it one of the largest direct-payment programs in U.S. history. Estimates reported by AP and Reuters put the potential cost at more than $1 trillion, depending on eligibility, while questions remain over its funding and legal implementation. The United States previously issued several rounds of direct payments to households during the COVID-19 pandemic, when Congress authorized the programs as part of broader economic relief measures. Trump has also previously floated a $2,000 tariff-funded dividend, but that proposal did not materialize.