US Treasury Secretary Bessent has voiced support for President Trump's plan to issue $5,000 checks to American adults, a proposal contingent on Republicans retaining their congressional majority after the midterm elections. During a Tuesday hearing before the House Financial Services Committee, Bessent responded to lawmakers' inquiries about the initiative, stating, "I believe there are ways to accomplish this without impacting the deficit."

While Bessent did not elaborate on how the costs would be offset, he indicated that the Treasury Department has been preparing for this plan for "quite some time." He did not acknowledge that such payments would likely require congressional authorization. If that proves necessary, he expressed a willingness to collaborate with House Speaker Mike Johnson on the proposal.

"Putting more money in the pockets of the American people should be a goal for everyone," Bessent remarked, adding that the President's commitment to advancing this plan is "very serious." The proposal is estimated to carry a price tag exceeding $1 trillion, against a backdrop where US spending is projected to outpace tax and tariff revenues by roughly $2 trillion this year.

Separately, Senate Majority Leader Thune also addressed reporters at the Capitol on Tuesday, describing the current state of financial markets and US debt as "genuinely concerning." When asked about the $5,000 check distribution plan, he noted, "We have to be very prudent and thoughtful in deciding how to allocate funds, while also seeking ways to slow the pace of government spending growth."