Could DOGE Be Giving A Rebate Checks To Taxpayers?
Source: Win McNamee / Getty
Elon Musk, the Department Of Government Efficiency (DOGE), recently indicated potential interest in a $5,000 stimulus check payout to American taxpayers.
On Wednesday, President Trump added his support to the potential DOGE refund saying, “there’s even under consideration a new concept where we give 20 percent of DOGE savings to American citizens. The numbers are incredible, so many millions, billions, hundreds of billions.” To understand the impact of a DOGE dividend on Americans, we can compare the proposed amount to typical tax refund and previous stimulus checks and examine the broader implications for household financial well-being.
The U.S. House of Representatives and the Senate are facing a lengthy and contentious process for delivering on the GOP promise to extend their party’s 2017 tax cuts before they expire at the end of this year.
There are exceptions that Congress will manage to extend the cuts in some way before January, but the effort will be complicated by conservatives in the house. It will also be by Trumps campaign promises of new tax breaks. Those include no longer taxing tipped wages, Social Security benefits or overtime pay, as well as establishing new tax deductions for families with newborn babies, for home generators and for interest on car loans.
According to the Committee for a Responsible Federal Budget, total 10-year cost of Trump’s tax priorities is between $5 trillion and $11 trillion. That’s as the national debt has topped $36 trillion, according to a tracker from the Peter G. Peterson Foundation.
Experts from the U.S. Government are criticizing the idea of a DOGE dividend, which is reminiscent of the COVID-19 stimulus checks that went out during the first Trump administration and under President Joe Biden.
Could DOGE Be Giving A Rebate Checks To Taxpayers? was originally published on rnbphilly.com
