Scott Bessent 'Doesn't Know' Congress Has Power Over Trump's $5,000 Dividend Plans, Says Peter Schiff: 'Republicans Must Call for His Resignation'
Investor Peter Schiff said Tuesday that the Constitution gives Congress the power of the purse, dismissing Treasury Secretary Scott Bessent ‘s claim that his department is examining whether it needs congressional approval for the $5,000 dividend promise, and demanded Republicans call for his resignation. Treasury Is ‘Examining’ If Congress Must Approve the Payments At a House Financial Services Committee hearing, Rep. Emanuel Cleaver (D-MO) pressed Bessent on whether President Donald Trump could authorize the payments without Congress. Bessent said Treasury was “currently examining” whether the payments would require congressional consent, adding he would meet with House Speaker Mike Johnson (R-La.) “if it becomes clear that we need congressional authority.” “Bessent doesn’t know that the U.S. Constitution leaves the power of the purse to Congress,” Schiff said in a post on X, adding that the “Republicans must call for his resignation as Treasury Secretary.” The Treasury Department did not immediately respond to ’s request for a comment. Bessent doesn't know that the U.S. Constitution leaves the power of the purse to Congress. He also claims $5k "dividends" can be sent to every adu
Investor Peter Schiff said Tuesday that the Constitution gives Congress the power of the purse, dismissing Treasury Secretary Scott Bessent ‘s claim that his department is examining whether it needs congressional approval for the $5,000 dividend promise, and demanded Republicans call for his resignation. Treasury Is ‘Examining’ If Congress Must Approve the Payments At a House Financial Services Committee hearing, Rep. Emanuel Cleaver (D-MO) pressed Bessent on whether President Donald Trump could authorize the payments without Congress. S.
” The Treasury Department did not immediately respond to ’s request for a comment. S. Constitution leaves the power of the purse to Congress. He also claims $5k "dividends" can be sent to every adult American without any impact on the budget.
Republicans must call for his resignation as Treasury Secretary. S. citizen if Republicans retain both the House and Senate in November’s midterm election. Read Also: China, Russia Tell US to Halt Space Militarization After First Confirmation of Weapons in Orbit: ‘Stop Preparing for War’ The Payments Wouldn’t Affect The Budget Schiff also called out Bessent’s claim that the $5,000 payments wouldn’t affect the deficit.
8 trillion deficit would worsen if every American received $5,000. S. 2 trillion, based on about 240 million eligible adults. A Warning About Political Backfire Schiff separately warned that Democrats could counter with their own $5,000 payment proposal, subject to a means test, putting Republicans in a bind.
He asked whether a Republican Senate would block a Democratic version of the payments, and whether Trump would veto it. ” What if Democrats also promise a $5,000 check to all adult Americans, only subject to a means test? Will a Republican Senate vote against it. Will Trump veto it?
Trump is the best ally big government loving Democrats have. Get ready for exploding deficits and soaring inflation. — Peter Schiff (@PeterSchiff) September 15, 2026 Read Also: Elon Musk Touts 100 Times More Bandwidth With Starlink V3, Says Starship’s First Orbital Launch Is Set for September 22 Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published editors. Image via Shutterstock/ Maxim Elramsisy