Millions of Americans could be receiving cheques of up to $5,000 per household in what is being dubbed the ‘DOGE dividend’ next year.
The cheques are expected to be released after the Elon Musk-headed Department of Government Efficiency (DOGE) finishes its said objectives in July 2026.
Donald Trump and dividend cheques are synonymous with one another, and the sentiments have been echoed by Donald Trump in his interactions with reporters aboard Air Force One.
Trump’s initiative also got the nod from U.S. Treasury Secretary Scott Bessent and Kevin Hassett, the director of the White House’s National Economic Council.
However, there have been no official policy or legislative proposals forthcoming yet.
The Department of Government Efficiency (DOGE) has been set up by the Trump Administration under the stewardship of Tesla Chief Elon Musk to cut down on unwanted and wasteful expenditures.
Several departments have come under the scanner of DOGE, the most prominent being USAID, which doles out aid overseas.
Elon Musk has already stated that USAID must be closed down, and overseas operations have already ceased, with many aid workers working on overseas projects being recalled.
Thousands of USAID workers have also been forced to go on leave.
Elon Musk-Led Plan Could Give Millions of Americans $5,000 Payouts in 2026 As ‘DOGE Dividend’
The DOGE has set a target of effecting $2 trillion worth of spending cuts by July next year. Of the money saved, $400 billion, which constitutes 20% of the total, will be earmarked for DOGE refunds.
However, the scheme will have to be approved by Congress. The total U.S. spending yearly adds up to $6.7 trillion, and 75% of the money is spent on Congress-approved federal programs such as Social Security, Medicare, and Medicaid.
The DOGE refunds are the brainchild of James Fishback, a DOGE supporter with connections to the Trump administration, who first mooted the idea and shared it on X, drawing the attention of Elon Musk, who then pitched the idea to President Donald Trump.
According to the proposal, the refunds will be given only to American households above a certain income level. This is in sharp contrast to the COVID-19-era dole-outs, which were sent “indiscriminately.” The scheme will not be available for lower-income Americans and will be given only to Americans who are net-income taxpayers.
However, there are many probabilities, and the most important is for DOGE to achieve its set objective of saving more than $2 trillion of taxpayers’ money. Even Elon Musk is not very optimistic about achieving this target and has gone on record saying that if you aim for $2 trillion in spending cuts, you can achieve $1 trillion.
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