5 Ways Trump Has Promised Americans Cash — and When You May Get It
Written by
Kerra Bolton
Edited by
Rebekah Evans
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President Donald Trump has repeatedly promised to put more money into Americans’ pockets.
Some involve direct payments, while others would deliver cash through the tax code. Not all of these promises are finalized and several would require additional steps before money reaches households.
Still, President Trump has outlined multiple ways Americans could see extra cash and when it might arrive. Below are five ways Trump has promised Americans cash and when you may get it.
Also here is how the OBBBA is good for finances, according to Suze Orman.
A $2K Tariff Rebate Check
In a TruthSocial post, President Trump said revenue from new tariffs could be returned to Americans as a direct cash payment, often described as a $2,000 “tariff rebate” or “dividend.”
Administration officials have said the rebate would target low and middle income households, with an income cutoff discussed publicly at around $100,000. According to CBS News, White House National Economic Council Director Kevin Hassett has said the plan would require congressional approval and has not been finalized.
When you may get it: Trump has said the rebate could be paid if Congress approves it. However, until legislation is passed and a distribution plan is set, the checks remain a proposal rather than guaranteed cash.
Bigger Tax Refunds From No Tax on Tips
The President has promised that tipped workers would no longer have to pay federal income tax on tips.
The policy calls for excluding tips from taxable income up to certain limits, per the IRS. It’s designed primarily for restaurant, hospitality and service industry workers and it includes income caps and phaseouts that limit who qualifies.
For most workers, the change would not show up as a separate check. Instead, it would reduce taxable income, which can result in a larger refund or a smaller tax bill when returns are filed.
When you may get it: Workers would generally see the cash benefit when they file their federal tax return for the 2025 tax year, typically in 2026, through a larger refund or a smaller amount owed.
More Take-Home Pay From No Tax on Overtime
Trump has said workers should not have to pay federal income tax on overtime pay.
According to the IRS, overtime pay would be excluded from taxable income up to certain limits. The benefit applies only to the overtime premium, not base wages and includes income caps and phaseouts that affect who qualifies.
Because the change affects taxable income, many workers would see the impact through payroll withholding adjustments or when they file their federal tax return, rather than through a separate payment.
When you may get it: Some workers may see higher take-home pay if withholding adjustments apply. However, many will realize the cash benefit when filing their federal tax return for the 2025 tax year in 2026.
A New Tax Deduction for Seniors
A new extra deduction for taxpayers age 65 and older was created under the One Big Beautiful Bill Act, per the IRS. Individuals who qualify can claim an additional deduction on their federal return on top of the standard deduction and the regular age-based standard deduction.
The additional deduction applies for tax years 2025 through 2028 and is designed to lower taxable income for older Americans, with phaseouts based on income.
Rather than coming as a separate check, this benefit works by lowering taxable income, which can result in a larger refund or smaller tax bill for qualifying seniors.
When you may get it: Eligible seniors generally see the benefit when they file their federal tax return for the 2025 tax year, typically in early 2026.
Government-Funded Cash Accounts for Children
Trump has backed the creation of Trump Accounts, a program that would provide government-funded cash for eligible children.
Families of children born between Jan. 1, 2025 and Dec. 31, 2028, would be eligible for a $1,000 government contribution placed into an account established for the child. The money would be set aside for the child’s future and would not be available for immediate spending.
When you may get it: The program is scheduled to launch on July 5, 2026. Eligible families would receive the $1,000 contribution once a Trump Account is established after the program launches, rather than automatically at birth.
Editor’s note on political coverage: GOBankingRates is nonpartisan and strives to cover all aspects of the economy objectively and present balanced reports on politically focused finance stories. You can find more coverage of this topic on GOBankingRates.com.
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