Trump's midterm election promise: $5,000 payment to U.S. adults

U.S. President Donald Trump announced a striking economic promise during his speech at the opening of the Republican Party midterm election convention held in Dallas, Texas.

In his speech, which lasted nearly two hours, Trump said that if Republicans win both the House of Representatives and the Senate in the midterm elections in November, a $5,000 payment will be made to every adult in the U.S. Trump stated, "If Republicans win both the House and the Senate, I will distribute a $5,000 dividend to every adult citizen in the U.S. thanks to our tremendous economic success."

Trump did not share details on how the plan would be implemented or how it would be financed. However, noting that he wants the payment to be spent within the U.S., he said, "We don't want you to go to Canada, China, or Germany to spend the money. You need to spend the money in the U.S."

While it is noted that there are approximately 270 million adults in the U.S., it is estimated that a $5,000 payment per person could cost the federal government approximately $1.3 trillion. While Democrats dismissed the plan as an "empty promise," some circles have opened a debate on whether such an implementation would be legal.

U.S. Vice President James David Vance argued that the payments could be covered by revenue generated from Trump's comprehensive tariff program. In a statement to Fox News, Vance noted that an "extraordinary amount of revenue" has been generated thanks to Trump standing up against foreign companies and countries that take advantage of American workers.