(NewsNation) — President Donald Trump recently floated giving $2,000 to most Americans from tariff revenue collected by the administration.

Trump made the proposal on social media Sunday and added that those who are against tariffs are "fools."

The idea isn't a new concept. Sen. Josh Hawley, R-Mo., introduced legislation in July that would give $600 tariff rebates to nearly all Americans and their dependent children to "allow hard-working Americans to benefit from the wealth that Trump’s tariffs are returning to this country."

Here is what to know about the latest proposal:

What has Trump said about tariff checks?

In addition to the $2,000 rebates, Trump suggested the tariff revenue could also be used to pay down the country’s debt, which, according to the U.S. Treasury, is at nearly

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