White House National Economic Council Director Kevin Hassett said President Donald Trump’s proposal for $5,000 dividend checks could move forward without worsening the federal government’s finances, despite an estimated cost of more than $1 trillion and US debt levels near records.

Hassett addressed concerns about additional borrowing on Thursday. “We can do it in a fiscally responsible way,” he said. “It is a serious proposal.” Trump first raised the payment idea earlier this week and linked it to Republicans retaining control of Congress.

Hassett said the White House views the payments as a way to return part of the country’s economic gains directly to households. “Because of all the growth and all the wealth being created in the US, the president thinks we need to return more of that to the American people,” he said.

One possible route would be a reconciliation bill, a congressional procedure that allows the majority party to pass certain fiscal legislation without approval from the opposition party. Hassett did not identify specific spending cuts or revenue increases that could help fund the checks.

Asked what measures could be paired with the payments, Hassett said those details would have to be “negotiated with Congress.” He added: “The bottom line is there are multiple paths to getting it done — don’t underestimate President Trump.” The proposal therefore remains dependent on negotiations over its legislative path and how the payments would be financed; no funding plan was identified in Hassett’s remarks.

Hassett retained Coinbase stake amid changes to US crypto policy

Hassett’s financial disclosures also place him close to a major cryptocurrency company. His 2025 annual disclosure showed that he held between $1 million and $5 million in vested Coinbase shares (NASDAQ: COIN) at the end of that year.

Hassett worked as an adviser to Coinbase from 2021 until January 2025, when he joined the White House. The recently released disclosure showed that he had not fully sold the position nearly 11 months into Trump’s second term. The filing covers only 2025 and does not establish whether Hassett still owns the stock now.

Three days after Trump returned to office in 2025, he established the President’s Working Group on Digital Asset Markets within the National Economic Council. An executive order allowed Hassett to serve on the panel, or permitted someone else to be designated on his behalf. The panel’s recommendations were required to pass through Hassett’s office before being sent to Trump.

At the time, the group was headed by White House crypto czar David Sacks. Sacks’ committee later proposed broad reforms covering digital asset markets, banks, stablecoins and taxation.

The government also reversed cryptocurrency regulations implemented during the Biden administration, created a bitcoin reserve in the United States and pushed for legislation establishing a national framework for digital assets.

Hassett has said he removed himself from crypto-related work while ethics officials addressed his Coinbase holding. Last year, he said he had not sold the shares because he did not want the transaction to appear timed around government decisions. He said he had received guidance from “the ethics people” and was still determining “what needs to be done.”

“Meanwhile, I have recused from any matter that’s related to crypto,” Hassett said on CNBC’s “Squawk Box.”

The White House told CNBC that the recusal remains in effect. Spokesperson Kush Desai said Hassett had followed the required ethics rules since entering government.

“Since day one, Kevin Hassett has and continues to be in full compliance with all ethical requirements, including his recusal from all cryptocurrency-related matters,” Desai said.