$2,000 Stimulus Check Update [Income Limits]

about substantial tax refunds coming in

[music] early 2026. Treasury Secretary

Scott Besson just gave us a heads up

that the tariff release stimulus checks

are still expected to be issued. They're

expected to be issued in early 2026

and we anticipate that they will be

released for those making under six

figures. So, under $100,000

of income. Now, this has been really

confusing. We've talked about this over

the weekend and the suggestion that hey,

they probably want to time this a little

closer to midterms. That seems to be

exactly what they're doing. They

probably want to time this in my opinion

about one year after they started their

tariffs. So they could really brand this

as look, we have all this money for

tariffs. Look how much money we made

over the last 12 months. Look how much

we're going to now provide. But it is

also being said in the same message

where Bessant says that these numbers

aren't decided yet and there is also in

the coming days going to be substantial

tariff relief and that there are a lot

of quote options for tariff dividends

which is interesting because a couple

days ago Scott Bessant was also heard

saying well you know a $2,000 tariff

dividend could also be the tax

deductions that you're able to get on

your tax returns now like no tax on tips

leading some people to say what is is

just a rebranding of stimulus. Uh and

then Kevin Hasset yesterday. I remember

him during Trump won and it was

confusing during COVID when we were

listening to Kevin Hasset. But anyway,

listen to this. This was confusing from

Hasset yesterday. I'll just play this

clip right here and I sort of sliced up

the pieces that matter.

>> Massive amount of of uh government debt

and sending checks to people like Joe

Biden did.

>> Finally, Kevin. So on one hand he's

like, "Hey, we got this massive amount

[clears throat] of debt and we were, you

know, back then we were sending the

checks to people like Joe Biden did."

He's trying to say the economy is good

today because we're not sending checks.

But then he's bagging on Biden for

sending checks and all the debt that we

have. And this is sort of how he tries

to reconcile that.

>> I wonder what's more likely, a $2,000

uh tariff rebate check or a 50-year

mortgage.

>> Well, you know, I think that they're

both really good ideas. Uh the fact is

that we've got a big reduction in the

deficit and the interesting thing is

that it's not just because of tariff

revenue. Uh we've had a big positive

shock to uh income taxes as well because

people's incomes are so much higher. And

so back in the summer when we were

saying that for now let's think of the

tariff revenue as something that reduces

the deficit. There's more room even for

deficit hawks to think about rebate

checks like the president talked about

because we've actually done such a good

job cutting spending. So that's his idea

is that oh we have more money but then

again when we look at the numbers we're

like maybe we're collecting $200 billion

from tariffs at an annual run rate but

we're still in a $1.8 trillion annual

budget deficit. So if we collect $200

billion we'd be going from negative 1.8

to 1.6 theoretically assuming that 1.8

doesn't already factor in those tariffs.

And then if you issue the checks you're

still right back at 1.8. Like we're

still deep in the hole. Still super deep

in the hole. Now, Bloomberg also just

covered uh this uh this announcement

because this was just minutes ago. So, I

think what we should do is listen to it.

Uh let's grab it here and then we'll see

them announce the same thing. Now, first

come the tax refunds and then comes the

tariff relief. The Treasury Secretary

Scott Besson speaking right now [music]

and saying that we'll be talking about

substantial tax refunds coming in early

2026 [music] and saying this on tariff

relief. We're going to unveil tariff

relief on coffee and other items.

Bananas and other fruits also set for

tariff [music] relief. Affordability is

the dominant word down in Washington DC

right now. And it looks like based on

those comments, the Treasury [music]

Secretary is responding to them.

>> If people see their coffee prices go

back down, how much does that affect

their feeling about cost of living and

uh just how much prices are going up?

talking about how they are going to

respond [music] to a spotlight that has

been shown on the fact that people are

worried about inflation that they're

>> well I I I think well I just want to

interject and say I think one thing

that's frustrating right now to most

Americans is yes we still have continued

inflation tariffs are contributing more

to goods inflation we know this uh to be

true when we look at goods inflation we

had goods inflation declining now goods

inflation is rising and specifically

tariffs tariff sensitive categories less

so in service sensitive categories at

the moment which basically just in

English is saying yeah of course tariffs

are increasing inflation now Goldman

Sachs says Americans pay about 88% of

tariffs which sounds roughly correct uh

and uh that uh you know manufacturers on

the other side maybe they pay about 12%

but the cost basically gets passed on to

us so we're really creating these

policies that are increasing tariffs and

we're making the pain worse but on the

other hand we're like trying to choose

winners by slowly going, "Oh, okay.

Coffee got expensive. All right. All

right. We'll reduce tariffs on this. Ah,

everything got expensive. All right,

here's the check." I was like, you know,

maybe if we just actually FOCUSED ON

GETTING INFLATION DOWN, wouldn't be this

bad. Let's keep listening to just

Bloomberg's comments for another moment.

>> About the absolute cost of everyday

goods. Can you selectively take tariffs

off certain items? Say coffee in the

morning, say [music] your eggs that you

have for breakfast while still keeping

them on in certain areas. [music]

>> You can't hide from that. People

experience those goods every single day.

Yes,

>> it's what UBS has talked about. The

frequency bars, you have [music] a

coffee every single morning, you see the

price of that go up, that's going to

shape your view on the economy and on

inflation regardless of what inflation

is. [music]

>> I think it's great what they're saying

here because they're like, you're you

can't hide you can't like individually

get rid of this inflation. Uh now Besson

does uh say that the economy was also

hurt because of the shutdown. Now this

is really interesting because it makes

me wonder does Besson know that a bad

jobs report is coming? Does he know

we're about to fall off the cliff with

job numbers and so they're pre-running

this idea of stimulus checks to say,

"Hey, you like we know it's about to get

worse. It's obviously the Democrat's

fault because of the Schumer shutdown.

When the Schumer shutdown came to a city

near you. Did your flight get delayed?

Did you have to pay extra money in

tariffs? It's all because of Chuck

[music] Schumer. Now the economy is

faltering. Don't worry, we'll save the

day. Like that's kind of how I feel like

they're trying to come across here is

it's like it's almost like they know the

government's going to reopen. Now we're

going to get three months of jobs data,

which that three months of reporting

data is going to be for uh September,

October, and November. Okay. So, by, you

know, within three weeks from now, we're

going to have three months of jobs data

getting dumped on us. Uh, and then

they're suggesting, yeah, the economy

just slowed down because of the

shutdown. Now, hopefully in Q1 and Q2,

incomes pick up again is what Scott

Besson says in the interview. and we're

going to re reveal substantial tariff

news, including substantial tariff

relief uh to help us get through this

hiccup in the economy because of the

shutdown. But again, if we're spending

all this money from tariff relief, but

then we're reducing the tariffs,

we just go into more debt. Uh and then

again h where why is he suggesting quote

the economy was in a great place before

the shutdown and now he's suggesting

it's not which again makes me wonder

like what what data are they prepping

for that's about to come out like I

almost imagine you have this interview

where or you know Scott Besson walks in

with Trump and goes all right the

government's about to reopen we're about

to tank like the we're literally about

to tank because when the people see

these job numbers, they're going to have

a heart attack and the stock market's

going to tank. Well, maybe now's the

time to offer the stimulus checks. We

should do that, but we should announce

it for a few months out, like maybe

early 2026, so it's closer to midterms,

and uh and and and we can distance

ourselves from the Schumer shutdown, and

we we'll blame the Democrats for a rough

holiday. Yeah, [laughter] it's too early

to do any kind of accents here, but it's

weird. It's all I'm saying putting

together these comments here. Economy

was in a great place before the

shutdown. Now we've got a hiccup. We're

going to have substantial tariff relief.

Oh, and we're going to do $2,000

stimulus checks for those making under

six figures. All like trying to put all

those pieces of the puzzle together, it

doesn't entirely [music] make sense.

We'll keep bringing the news to you, so

make sure to subscribe. Why not

advertise these things that you told us

here? I feel like nobody else knows

about this.

>> We'll we'll try a little advertising and

see how it goes.

>> Congratulations, [music] man. You have

done so much. People love you. People

look up to you.

>> Kevin Praat there, financial analyst and

YouTuber. Meet Kevin. Always great to

get your take.