The anticipated Doge dividend may be moving closer to realization, with reports of a bill being drafted that includes the proposal.
Both Elon Musk and Donald Trump are intrigued by the idea of converting a portion of the savings from the Department of Government Efficiency into a one-time payment.
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The concept was initially proposed by investor James Fishback, who recommended that 20% of the savings generated by Doge could be allocated for the dividend payments.
His calculations are based on Musk’s aim to achieve $2 trillion in savings, as detailed in his research.
Fishback indicated that 20% of these savings would amount to $400 billion, allowing for payments to be made to approximately 79 million taxpaying households.
This would result in checks being issued for $5,000 each.
He also informed The New York Post: “The proposed bill will be presented in the coming days.”
According to his proposal, payments could be distributed after July 2026, coinciding with the anticipated end of the Doge initiative.
However, he mentioned to the Post that payments might be expedited if the Doge dividend receives legal endorsement.
So far, Doge claims to have saved $65 billion, based on its savings calculator.
Opponents of Fishback’s initiative argue that any payments could lead to inflationary pressures.
Experts have noted that stimulus checks issued during the pandemic affected the economy.
Fishback clarified that any Doge payments would be strictly reliant on the savings generated.
Furthermore, checks would only be sent to taxpaying households.
This means not every American would receive a payment if such a plan is implemented.
Currently, lawmakers on Capitol Hill are apprehensive about endorsing the concept of a Doge dividend.
Mike Johnson, Speaker of the House of Representatives, commented that while a stimulus payment could be politically advantageous for the GOP, it contrasts with their foundational principles of fiscal responsibility.
“We have a $36 trillion federal debt and a substantial deficit to manage. We need to focus on reducing our debt,” he mentioned to audiences at CPAC.
Johnson reportedly expressed skepticism when the idea of a Doge check was met with enthusiasm, as reported by USA Today.
POLITICAL SUPPORT
Trump praised the notion of the check as “great,” whereas Musk expressed intent to discuss the proposal with the president upon its introduction.
“It’s money redirected from harmful initiatives that undermine the country, and from organizations that oppose you,” Musk stated to supporters at CPAC.
Polling data from JL Partners indicates that seven out of ten Americans favor a Doge dividend.
Moreover, six out of ten Democrats believe that Capitol Hill politicians have misallocated taxpayer funds.
A majority also feel that the prospect of financial payments would encourage Americans to report financial waste.
Reporting waste is one of the benefits highlighted by Fishback in his original proposal.
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