Trump's $5,000 dividend checks would come with a major catch under GOP senator's plan

DALLAS — Theres a push in the Senate to turn President Donald Trumps pitch of $5,000 checks for Americans into a reality, with a couple of caveats along the way.

Sen. Bernie Moreno, R-Ohio, plans to introduce legislation that would codify the dividend checks and wants it done as soon as the upcoming midterm elections are over, when the balance of power could tilt in favor of Democrats.

But the money, Moreno told Fox News Digital, wouldnt come from taxpayers coffers. Instead, he wants to approve certain structural tariffs to act as a "market access fee" that would find its way back into the pockets of Americans.

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And it can only be spent in the U.S.

"This dividend would be something that is allowing working Americans to share in the prosperity of this country," Moreno said. "The money would be used only here in the United States, so it's not to be used outside the United States. I think it would provide a big economic boost to our economy."

"So, if you're a company out there, anywhere in the world, you want to sell your products in America, you either make it here in the United States, or you pay a fee to enter our market," he continued. "That money goes to funding this one-time dividend."

Trump floated the plan Wednesday night during the Republicans midterm convention in Dallas, where the GOP and several — but not all — vulnerable incumbents and candidates flocked to energize their base and pitch why they should maintain control of Congress.

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The cost, however, could be an eye-popping $1.2 trillion. Moreno argued that the cost was worth it and noted that despite the steps Republicans have taken to lower costs, Americans are still feeling the crunch.

"It's about providing relief," Moreno said. "It's acknowledgment that during the Biden years, it was so bad for working families, that, despite what we've already done in 18 months, it just isn't enough to get working families to basically so that they're level, right?"

"Because they're underwater right now," he continued. "I think it's extremely important for us to understand in elected office that working families are struggling."

For the plan to work, Republicans would need to maintain their control of both chambers of Congress, and it comes as the nations federal deficit skyrocketed to $40 trillion last month and as the GOP has consistently pitched itself as the party of fiscal responsibility against Democrats wanton federal spending.

Trump's plan scored one unlikely ally in House Freedom Caucus Chairman Andy Harris, R-Md., leader of a pack of fiscal hawks who routinely scoff at Congress inability to tackle the nations debt.

"Hardworking American taxpayers probably deserve a tax rebate. We're gonna have to discuss, you know, how large a rebate that would be. But I think, again, American taxpayers deserve relief from taxation. I think that's a good idea," Harris told Fox News Digital in an interview during the GOP midterm convention.

Harris said such a plan