Trump's $5,000 dividend checks would come with a major catch under GOP senator's plan

DALLAS — There’s a push in the Senate to turn President Donald Trump’s pitch of $5,000 checks for Americans into a reality, with a couple of caveats along the way.Sen.Bernie Moreno, R-Ohio, plans to introduce legislation that would codify the dividend checks and wants it done as soon as the upcoming midterm elections are over, when the balance of power could tilt in favor of Democrats.But the money, Moreno told Fox News Digital, wouldn’t come from taxpayers’ coffers.

Instead, he wants to approve certain structural tariffs to act as a "market access fee" that would find its way back into the pockets of Americans.TRUMP DEFENDS $5,000 DIVIDEND PROPOSAL, PRAISES 'BEAUTIFUL' TARIFFS ON 'INGRAHAM ANGLE'President Donald Trump speaks during the Republican convention at American Airlines Center on Sept.9, 2026, in Dallas.

(The Dallas Morning News via Getty Images)And it can only be spent in the U.S."This dividend would be something that is allowing working Americans to share in the prosperity of this country," Moreno said."The money would be used only here in the United States, so it's not to be used outside the United States.

I think it would provide a big economic boost to our economy.""So, if you're a company out there, anywhere in the world, you want to sell your products in America, you either make it here in the United States, or you pay a fee to enter our market," he continued."That money goes to funding this one-time dividend."Trump floated the plan Wednesday night during the Republicans’ midterm convention in Dallas, where the GOP and several — but not all — vulnerable incumbents and candidates flocked to energize their base and pitch why they should maintain control of Congress.TRUMP JUST EXPANDED HIS TARIFF PLAYBOOK WITH A POWERFUL TRADE WEAPON NO PRESIDENT HAS EVER USEDThe cost, however, could be an eye-popping $1.2 trillion.

Moreno argued that the cost was worth it and noted that despite the steps Republicans have taken to lower costs, Americ...