The Latest: Trump makes dubious pledge to give every US adult $5,000 if GOP wins midterm elections

President Donald Trump has pledged to send every American adult $5,000 if Republicans retain control of the House and Senate in the midterm elections. The dubious promise would 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.

Trump also said Wednesday that oil prices that have surged because of the Iran war likely won’t come down until after U.S. midterm elections. The comments were a striking acknowledgment from Trump about the conflict as his Republican administration faces mounting pressure to address high gas prices as the war in Iran grinds on with no conclusion in sight.

Here’s the latest:

GOP donor doesn’t like Trump’s proposed $5,000 checks

Joe Londsdale, a prominent Republican donor and activist, is among the Trump allies panning the president’s latest promise to send money directly to Americans.

“I am hugely in favor of winning the midterms, and love much about this (administration),” he wrote on X, “but am strongly against bread and circus bribes.”

Democrats say Trump’s ‘bizarre’ convention is a distraction from his faltering presidency

It’s not just Republicans descending on Dallas for the midterm convention — Democrats are there too as they try to convince voters that the reality of Donald Trump’s second presidency doesn’t match the spectacle of his made-for-TV event.

“This bizarre Republican midterm convention here can’t paper over the fact that Republicans have done nothing to earn your vote,” Illinois Gov. JB Pritzker, a potential 2028 presidential contender, said Wednesday morning.

Besides Pritzker, several leading House Democrats were traveling to Dallas for events, as well. And Texas Democrats hope the spotlight on the state ends up benefiting their candidates.

James Talarico, a Texas state lawmaker who’s running against state Attorney General Ken Paxton in a closely watched Senate race, held a food drive Wednesday at Friendship West Baptist Church in Dallas. He compared volunteers’ work with Republicans’ festivities.

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Trump says oil prices that spiked because of Iran war likely won’t come down until after midterms

Trump said Wednesday that oil prices that have surged because of the Iran war likely won’t come down until after U.S. midterm elections.

Oil prices on Wednesday jumped more than 3%, pushing international Brent crude past the $100 threshold for the first time since July as salvos between the U.S. and Iran escalated.

“Right after the election, oil prices are going to be tumbling downward,” Trump said. “I think it’s going to take a little bit longer than the midterm.”

The comments were a striking acknowledgment from Trump about the conflict as his Republican administration faces mounting pressure to address high gas prices as the war in Iran grinds on with no conclusion in sight.

Trump, in an exchange with reporters before traveling to Dallas for the midterm Republican convention, added that he believes Iran will finally relent after the pivotal elections are held in the U.S.

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Trump, hoping to salvage midterms, makes dubious pledge to give every US adult $5,000 if GOP wins

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 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.”

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.

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