Quote:President Donald Trump pledged Wednesday to send every American adult $5,000 if Republicans retain control of the House and Senate in the midterm elections, an extraordinary gambit to reverse his party’s sagging fortunes in November.

The dubious promise would most likely cost more than $1 trillion and require congressional approval, and would further exacerbate the country’s nearly $1.8 trillion annual budget deficit and concerns about inflation.

“If the Republicans win, you win with us and you get $5,000,” Trump said during the GOP’s midterm convention in Dallas. “It will be called the Trump Dividend.”

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He likened the payments to a corporation’s distributions to shareholders, citing “our tremendous strength and success economically.”

Within an hour, Vice President JD Vance appeared to try to walk back Trump’s proposal — at least in part — by suggesting the dividend payments would not go to the wealthy. Vance suggested it could be paid for by U.S. tariff revenues, though the suggested payment dwarfs what the U.S. has taken in through the protectionist measures.