Treasury Secretary says $5,000 adult checks could be issued without new congressional approval

In testimony before the House Financial Services Committee, Treasury Secretary Scott Bessent confirmed that the Treasury Department is reviewing President Donald Trump's plan to issue $5,000 checks to all adults. He said officials are exploring options that might permit the payments without seeking new congressional authority, while also expressing willingness to coordinate with Speaker Mike Johnson should legislative approval become necessary.

Bessent described the president's intent as "very real" and suggested the Treasury could fund the program without adding to the deficit, though he declined to explain the method. Lawmakers, including Democrats Emanuel Cleaver, Juan Vargas and Jim Himes, pressed him on the legality and fiscal impact, with Himes also raising concerns about previous market interventions. The discussion comes as Treasury recently announced larger buybacks of long-term debt, and bond yields have risen to their highest level in 19 years.