President-elect Donald Trump’s return to the White House is stirring speculation about whether his administration will issue another round of stimulus checks, a key move during his first term. Trump’s reputation for prioritizing financial relief helped secure his voter base, but experts argue that the likelihood of direct payments in 2025 is extremely low, according to a report from CBS News.
During his first term, Trump oversaw two rounds of stimulus checks, which were issued during the height of the COVID-19 pandemic. These payments were part of bipartisan efforts to help Americans weather a devastating economic crisis, marked by business closures and an unemployment rate that soared to nearly 15%. Now, with inflation cooling and unemployment near historic lows at 4.1%, economists say there’s little justification for similar measures.
“Stimulus checks typically only happen when the economy is in really bad shape and consumers need a push to start spending money again,” Jacob Channel, senior economist at LendingTree, told CBS News. “That’s not really the case in the present.”
Despite this, speculation about a fourth stimulus check has gained traction on social media, with users on TikTok and X debating whether Trump might replicate his pandemic-era strategy. However, such a move would require congressional approval. While Trump’s name appeared on the memo line of the first stimulus check, the payments were part of federal legislation passed by Congress and not something the president could authorize alone.
Channel further clarified, “Though Trump ultimately did sign the bill that sent stimulus checks to Americans, he isn’t solely responsible for them.” Currently, no such legislation is in progress, and experts believe it’s unlikely to emerge in the near future.
Economists also warn that issuing new stimulus checks could reignite inflation, which has been steadily declining toward the Federal Reserve’s target of 2%. “Because inflation is still such a big concern at the moment, the last thing a reasonable government would want to do is further stimulate consumer demand with stimulus checks,” Channel told CBS News.
Instead, Trump’s economic agenda is expected to focus on extending tax cuts from the 2017 Tax Cuts & Jobs Act and addressing broader financial policies rather than issuing direct payments.
While the idea of another stimulus check remains a hot topic online, experts agree that such relief is unlikely under current economic conditions. Trump’s ability to deliver targeted financial policies remains a major reason why people voted for him, but whether he’ll repeat pandemic-era strategies is uncertain.
(This report includes information from CBS News.)
