HONOLULU (Island News) — As we approach March 2025, the possibility of $5,000 checks for Americans is reportedly still being considered. Many are left wondering about the likelihood of this happening.
Sam Erwin from Hanks Tax Service commented to Island News on Sunday, “I haven’t seen any official documentation indicating they will distribute those $5,000 checks – they still have until Summer.”
President Donald Trump has recently indicated that he is looking into the idea, which was initially suggested by a CEO of an investment firm as a way to use savings from Elon Musk’s Department of Government Efficiency to provide stimulus checks to Americans.
Erwin noted, “Even if you don’t have a filing obligation, you might want to file, …just in case these checks materialize.”
Trump reportedly mentioned last month at a Saudi-sponsored Summit in Miami Beach, “We’re thinking about allocating 20 percent of the DOGE (Department of Government Efficiency) savings to American citizens and another 20 percent to reduce the national debt.”
While significant cuts have been made, do we have enough savings to see the emergence of a stimulus check in 2025?
Considering the U.S. national debt is reportedly over $30 trillion, James Fishback, CEO of Azoria and creator of the ‘DOGE Dividend’, recently remarked, “Hardworking Americans deserve a $5,000 check with President Trump’s name on it.”
Some question whether the $5,000 amount is excessive and if it would spur more spending.
Erwin responded, “Okay, so if we increase spending, companies will raise prices and pay their employees more. This could lead to further inflation. While issuing checks might seem beneficial in the short term, I believe it could have long-term negative effects, especially if the goal of all this restructuring was to save money… to reduce the debt, not to maintain the same debt levels and hand out checks.”
The DOGE stimulus check is still in the discussion phase. The authority to distribute checks does not rest purely with Trump; Congress would need to approve the proposal before any federal stimulus payment could be initiated.
