President Donald Trump said on Monday that Americans might begin receiving dividend-style payment checks funded by tariff revenue as early as next year. Speaking to reporters in the Oval Office, Trump claimed the government has already taken in “hundreds of millions of dollars” from tariffs and suggested payouts could roll out by mid-2026.
“We’ve taken in hundreds of millions of dollars in tariff money. We’re going to be issuing dividends probably by the middle of next year, maybe a little bit later than that,” Trump said.
He first raised the idea last week, proposing $2,000 payments for low- and middle-income Americans using tariff proceeds. Trump added that any leftover revenue would be used to reduce the national debt.
The plan comes as tariff collections rise, but the scale of those receipts remains small compared with overall federal finances. With U.S. debt sitting just above $38 trillion, even a strong year for tariffs amounts to a relatively modest offset — billions collected against trillions owed.
Since Trump announced his “Liberation Day” tariffs in April, tariff revenues have climbed sharply, rising from $23.9 billion in May to $28 billion in June and $29 billion in July. According to the Treasury Department’s Customs and Certain Excise Taxes report, total duty revenue reached $215.2 billion in fiscal year 2025, which ended Sept. 30.
Early figures for fiscal year 2026 — which began Oct. 1 — show $37.5 billion collected so far, based on the most recent Treasury data.
Even with that surge, tariff revenue remains a smaller piece of the budget than major tax streams. Treasury figures show individual income taxes generated more than $2.6 trillion in fiscal 2025, compared with about $195 billion from tariffs and $452 billion from corporate income taxes.
Trump’s proposal also lands amid ongoing legal uncertainty. The Supreme Court is currently reviewing the legality of his trade measures, and the outcome could determine whether the underlying tariffs — and the revenue they generate — remain in place.
