'Don't underestimate the President': Trump's Kevin Hassett backs $5,000 dividend checks idea

White House National Economic Council Director Kevin Hassett says President Donald Trump’s $5,000 payment plan can move forward without worsening federal finances. The proposal would cost above $1 trillion, with US debt near record levels.

Kevin pushed back on the borrowing concern Thursday. “We can do it in a fiscally responsible way,” he said. “It is a serious proposal.” Trump first floated the payment idea earlier this week and tied it to Republicans keeping control of Congress.

Kevin said the White House sees the payments returning part of the country’s economic gains to households directly. “Because of all the growth and all the wealth being created in the US, the president thinks we need to return more of that to the American people,” he said.

A reconciliation bill would be one way. This is a procedure that allows the majority party in Congress to pass certain fiscal bills without needing the approval of the opposition party. Kevin did not list any specific areas where cuts could be made or revenues raised.

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