Donald Trump‘s 2024 campaign honed in on economic issues like the global recession and inflationary policies that are raising consumer prices all over the country, but now that we’re a few weeks into his second administration, people are wondering if any of the president’s plans to “make America great again” entail signing off on another stimulus package like the American Rescue Plan Act of 2021.
It’s almost been a month since Trump was sworn into office as the 47th president, and already, we’ve probably gone through one of the most eventful January–Februaries of our lifetime. Since donning the mantle again (no pun intended) the president has signed a flurry of executive orders aimed at undermining Joe Biden’s work. He is disrupting the war effort in Ukraine and pressuring the country into signing a peace deal, performing actions that are borderline unconstitutional — if not downright unlawful — and reversing the progress the country has made on minority rights by taking us back to the dark ages.
On top of all this, Trump seems to have forgotten all about his promises of fixing the economy and putting a stop to inflation. In fact, the president seems to be spending most of his time pushing the political and ideological agendas of the far-right, and when he isn’t doing that, his idea of improving the economy boils down to alienating the country’s business partners with tariffs, which, according to experts everywhere, are a sure-fire way of making everything worse.
So now that inflation seems all but inevitable thanks to these new executive orders disrupting the trade with China, Canada, and other European allies, will Trump also endorse further stimulus packages to help struggling families?
Is Donald Trump giving out stimulus checks?
As of writing this, neither the Trump administration nor Congress have announced any plans regarding stimulus packages in the upcoming months, but we do know that the IRS is still in the process of giving $1,400 payments to over one million taxpayers who were eligible for the 2021 Recovery Rebate Credit.
There have also been claims circulating online that Trump is planning to give out $18,000 to every adult in America, but a quick fact-checking on the web reveals this claim to be false.
Trump’s work on the economy, apart from the tariffs, will mostly revolve around tax reforms, like the proposal to lower the corporate tax rate from 21% to 15% and reinforce or make permanent many other tax policies from Trump’s first administration.
It’s also worth noting that while the stimulus package in 2021 did help businesses recover their revenue in the aftermath of the COVID-19 pandemic, the idea behind a stimulus check (a fancy term for a direct payment from the government to individuals) can be very disruptive to the flow of the economy, not only raising demand for various products and thus aggravating inflation but also increasing government debt.
As far as the latter is concerned, in fact, Trump’s administration seems hell-bent on combating national debt in any way possible, even if their tactics so far have been the opposite of fruitful.
Published: Feb 19, 2025 03:56 pm