James Fishback, the CEO of investment firm Azoria and the proponent of the “DOGE dividend,” expressed his “optimism” regarding an impending bill aimed at distributing checks to American taxpayers. This initiative would be funded by savings realized through the Department of Government Efficiency.
Why It Matters
According to the proposed plan, individuals who are net-payers of federal income tax—those who contribute more in taxes than they receive—would be eligible. As Newsweek previously noted, this criterion would likely exclude the majority of Americans earning less than $40,000 annually, as they typically do not pay federal income taxes after accounting for deductions and credits.
Around 79 million American households are projected to receive $5,000 from the 20 percent of the $2 trillion that DOGE plans to save through spending cuts.
Supporters believe that this could help rebuild trust between taxpayers and the government, while detractors caution against potential economic repercussions, including inflation and concerns over the national debt.
Alex Brandon/AP
What To Know
“I am optimistic that a bill is imminent to actualize President Trump’s vision for DOGE,” Fishback shared in a recent interview with NewsNation. “It’s not enough, Blake [Burman], to merely identify waste, fraud, and abuse. We must return taxpayers their hard-earned money when it’s been wasted, which is precisely what the DOGE dividend aims to achieve.”
Fishback described his meetings last week with members of the House and Senate as “very productive,” indicating that details of the proposed plan will be unveiled shortly.
The Azoria CEO originally introduced the concept of DOGE stimulus checks in a post on X, formerly known as Twitter, last month.
“American taxpayers deserve a ‘DOGE Dividend’: 20% of the savings from DOGE should be returned to hardworking Americans as a tax refund. It was their money to begin with!” he stated. “With a projected $2 trillion in DOGE savings and 78 million tax-paying households, this translates into a $5,000 refund per household, while the remainder would be allocated to reduce the national debt. @ElonMusk, let’s make this happen! This is how we restore faith in our government.”
In response to Fishback’s proposal, DOGE leader Elon Musk remarked on X, stating: “Will check with the President.”
Later, President Donald Trump expressed his endorsement of the potential DOGE refund during a speech in Miami in February, mentioning that “a new concept is even under consideration where we allocate 20 percent of the DOGE savings to American citizens. The figures are astounding—millions, billions, hundreds of billions.”
Defending the plan, Fishback asserted that targeting net taxpayers could mitigate inflation risks.
“Many low-income households essentially received transfer payments equating to 25 to 30 percent of their annual income,” he noted, according to NBC. He emphasized that DOGE payments should be directed “exclusively” to net taxpayers since “they tend to save rather than spend transfers like the DOGE dividend.”
The proposal has garnered support from some Democrats and Republican lawmakers who see it as a strategy to tackle government waste and inefficiency. However, others, including House Speaker Mike Johnson, have raised concerns that any savings should prioritize addressing the deficit rather than direct taxpayer payments.
“From a political perspective, that would be beneficial for us, as everyone receives a check,” Johnson remarked at the 2025 Conservative Political Action Conference. “Yet, if we adhere to our core principles, fiscal responsibility is paramount for conservatives. We’re facing a $36 trillion federal debt. We need to start paying down the credit card, right?”
Financial analysts have cautioned that distributing DOGE checks could lead to inflation.
“Increasing demand without corresponding supply inevitably results in inflation,” stated Lance Roberts, chief investment strategist and economist at RIA Advisors, to Newsweek.
Roberts also added that a tax credit might be more advantageous for taxpayers. Musk has reiterated that achieving a balanced budget remains DOGE’s primary focus.
“Balancing the budget must be our first priority,” Musk responded to concerns over DOGE dividend funds potentially becoming a government “piggy bank.”
Fishback, however, remains firm in his belief that the initiative is a responsible method for returning funds to taxpayers. In a conversation with Fox Business’ Maria Bartiromo last week, he stated, “I’m honored to have the president’s support, but the plan is straightforward. DOGE is projected to save a specific amount of money over the next few years. Let’s take 20 percent of that and return it directly to the hardworking taxpayers who sent it to D.C. in the first place.”
He previously told Newsweek that the inspiration for the DOGE dividend checks came to him in a dream.
“It came to me in a dream,” he revealed. “I woke up, called our head of research at Azoria, and we drafted the proposal in just a two-hour lunch at Capital Grille.”
Fishback’s dividend proposal aligns with his broader vision for a government that actively rewards citizens for their vigilance against wasteful spending. In this manner, “…DOGE can save even more, consequently allowing for an even larger DOGE dividend check to hardworking Americans,” he said.
What People Are Saying
James Fishback told News Nation: “It’s time to refund the money. The DOGE dividend should also incentivize taxpayers to spotlight waste, fraud, and abuse in the government and engage them in this movement for government efficiency.”
Lance Roberts, chief investment strategist and economist at RIA Advisors, told Newsweek: “Increasing demand without a corresponding increase in supply results in inflation. A tax credit would more effectively assist the bottom 50 percent of income tax payers, who pay little or no taxes [they receive a refund] but won’t create a demand surge as significant.”
What Happens Next
A bill regarding the DOGE check is anticipated to be announced this week, as indicated by Fishback. However, a timeline for when the checks will be distributed remains uncertain.
