Former Congressional Budget Office Director Douglas Holtz-Eakin cast doubt on President Donald Trump’s promise to send $5,000 to every U.S. adult if Republicans retain control of Congress, saying earlier DOGE and tariff-dividend plans were unrealistic too.
Holtz-Eakin Doubts Trump’s Latest Cash Promise
“So the president has promised a lot of checks,” Holtz-Eakin told Fox News Digital on Thursday. “We ever going to see these? Well, I don’t think so.” Trump unveiled the “Trump dividend” at the Republican midterm convention in Dallas. Reuters estimated the proposal could cost about $1.35 trillion, while House Speaker Mike Johnson said Congress would have to authorize it.
DOGE And Tariff Checks Face Similar Doubts
Holtz-Eakin, now president of the American Action Forum, said “the DOGE checks were never realistic because DOGE was never going to save that much money.” Trump floated returning 20% of DOGE savings to Americans in February 2025. Elon Musk later projected DOGE would save about $150 billion in fiscal 2026, far below earlier $1 trillion savings target.
He also dismissed Trump’s earlier tariff-dividend proposal. “The tariff checks were never that realistic because [Trump] didn’t have the authority to issue the checks, and that’s actually true of all of these promises,” Holtz-Eakin said.
The White House did not immediately respond to a request for comment by Benzinga.
Debt And Inflation Shape Broader Warning
Holtz-Eakin said he would be “skeptical that any of these checks are gonna be in your mailbox very soon.” His concern extends to Washington’s broader fiscal position. “Right now it doesn’t add up,” he said.
CBO estimated the federal deficit reached $2 trillion through the first 11 months of fiscal 2026. Its February baseline projected a $1.9 trillion full-year deficit and debt held by the public equal to 101% of GDP.
The warning comes as the Federal Reserve keeps inflation in focus. The Fed raised its target rate by 25 basis points Wednesday to 3.75%-4%, saying “inflation remains elevated.”
Holtz-Eakin said policymakers should support the Fed’s effort to restore price stability rather than lean on new cash payments. He called for an “old-school conservative” approach centered on controlling debt, spending less and avoiding tax increases.
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