Lutnick Defends Trump’s $5,000 Dividend as 100,000 Visa Applicants and $50 Billion Intel Gain Fall Short
Updated
Updated · NBC News · Sep 11
Lutnick Defends Trump’s $5,000 Dividend as 100,000 Visa Applicants and $50 Billion Intel Gain Fall Short
3 articles · Updated · NBC News · Sep 11
Summary
$5,000 checks promised by Trump would not use taxpayer money, Commerce Secretary Howard Lutnick said, arguing the administration could generate the funds without raising the deficit.
100,000 people are on a waitlist for a planned $5 million visa-extension program, Lutnick said, and he also pointed to a roughly $50 billion paper gain on 500 million Intel shares bought with $8.9 billion in CHIPS Act funds.
Those explanations diverge from other administration accounts: Kevin Hassett floated using congressional reconciliation, while JD Vance suggested tariff revenue for a plan initially estimated to cost about $1.3 trillion.
The funding debate lands as U.S. debt has topped $40 trillion, the budget deficit is nearing $1.8 trillion, and Trump’s economic approval stood at 32% in a recent AP poll.