‘The Big Money Show’ panel discusses President Donald Trump’s humming economy as tariff detractors start to backpeddle on recession claims.
A Senate Republican wants to see some of the money rolling in from President Donald Trump’s tariffs go back to American families.
Trump’s tariffs have, so far, raked in billions of dollars and have set the administration on a pace to achieve a once lofty goal of $300 billion in total revenue to the federal government from across-the-board duties.
TRUMP’S TARIFF STRATEGY COULD PAY FOR HIS TAX BILL, BUT ONLY IF THEY STICK, EXPERTS WARN
Sen. Josh Hawley, R-Mo., speaks with members of the media, following the Senate Republican weekly policy lunch, at the U.S. Capitol in Washington, D.C., on Feb. 27, 2024. (REUTERS/Nathan Howard)
Sen. Josh Hawley, R-Mo., wants to see some of that money flow to Americans. Hawley introduced a bill that would provide families with up to $600 per adult and child, or for a family of four, a total of $2,400.
His bill comes as the Treasury Department announced that through July, the administration’s tariffs have brought in about $28 billion. That’s already $1 billion higher than all of June’s tariff revenue, and brings the total revenue generated by duties for the year to about $150 billion.
JULY TARIFF REVENUES BREAK MONTHLY RECORD, WITH $150B COLLECTED SO FAR IN 2025
President Donald Trump, joined by FDA Commissioner Martin Makary, National Institutes of Health (NIH) Director Jay Bhattacharya, Health and Human Services Secretary Robert F. Kennedy Jr., and Administrator for the Centers for Medicare & Medicaid (Tom Brenner for The Washington Post via Getty Images / Getty Images)
It also comes on the heels of Trump floating the possibility of giving Americans rebate checks, too.
“We’re thinking about a little rebate,” Trump told reporters last week. “But the big thing we want to do is pay down debt. But we’re thinking about a rebate.”
Hawley argued that “Americans deserve a tax rebate after four years of Biden policies that have devastated families’ savings and livelihoods.”
“Like President Trump proposed, my legislation would allow hard-working Americans to benefit from the wealth that Trump’s tariffs are returning to this country,” he said in a statement.
Senate Democrats and tax experts have warned that Trump’s tariff policies were effectively adding another tax to consumers, saying that the cost of additional duties on goods are typically shouldered by consumers.
GOP LAWMAKERS CLASH OVER STRATEGY TO AVERT GOVERNMENT SHUTDOWN CRISIS
President Donald Trump speaks during a “Make America Wealthy Again” trade announcement event in the Rose Garden at the White House on April 2, 2025, in Washington, D.C. (Chip Somodevilla/Getty Images / Getty Images)
Hawley’s bill could help to cancel out some of that additional cost from the White House’s tariff strategy.
Hawley’s bill would mirror the same parameters laid out in 2020, when the Trump administration issued $1,200 stimulus checks to Americans during the COVID-19 pandemic. Not every family is guaranteed the $600 outlined in his legislation.
CLICK HERE TO GET THE FOX NEWS APP
For example, joint filers making $150,000 or more, single filers making over $112,500 and individuals who earn more than $75,000 would see the rebate amount drop.
And, if the tariffs bring in more revenue than projected estimates, people will see more than $600 from the government.
