5 Ways Trump Has Promised Americans Cash — and When You May Get It
Yahoo Finance·2026-01-16 16:45

Group 1 - President Trump has proposed multiple ways to provide cash to Americans, including direct payments and tax code adjustments, although many proposals are not finalized and require further legislative action [1][3] - One of the key proposals is a $2,000 "tariff rebate" aimed at low and middle-income households, contingent on congressional approval [3][4] - The rebate would be funded by revenue from new tariffs, with an income cutoff discussed at around $100,000 [3] Group 2 - Another proposal includes eliminating federal income tax on tips for workers in the restaurant, hospitality, and service industries, which would lead to larger tax refunds or smaller tax bills [4][5] - This change would not result in a separate check but would reduce taxable income, benefiting workers when they file their federal tax returns for the 2025 tax year [5][6] - Additionally, Trump has suggested that overtime pay should also be exempt from federal income tax, with similar income caps and phaseouts affecting eligibility [7]