President Donald Trump renewed his promise Saturday to provide $5,000 to every adult U.S. citizen if Republicans retain control of the House and Senate in November, while warning of severe economic consequences if Democrats take control.

Trump pledged in a video posted to Truth Social, saying the proposed payments would be possible because of federal revenue from tariffs and what he described as strong economic performance under his administration.

“If Republicans win the House of Representatives and the Senate, I’m going to give all adult citizens in the United States of America $5,000,” Trump said.

He called the proposed payment the “Trump dividend” and estimated its total cost at roughly $1 trillion. Independent estimates have placed the cost higher, at more than $1.2 trillion, based on the number of adult U.S. citizens.

Trump said the government is collecting “massive amounts of money through tariffs” and pointed to what he described as record-setting economic success as the basis for the proposal.

He also warned that a Democratic takeover of Congress would produce what he described as a “1929 disaster,” comparing the potential economic consequences to the period surrounding the Great Depression.

“If the Democrats win, you will have an economic depression, much like 1929,” Trump said.

Trump contrasted that scenario with continued Republican control, saying Americans would receive the proposed $5,000 payment along with what he described as unprecedented economic growth.

He also cited the $1,776 payment made to members of the military as an example of his administration delivering a payment that had initially faced doubts. Trump has referred to that payment as the “Warrior Dividend.”

Trump first announced the $5,000 proposal Sept. 9 at the Republican Midterm Convention in Dallas. At the time, he said the payment would have to be spent in the United States, although he has not provided details about how such a restriction would be enforced.

The proposal would require congressional approval because federal spending must be authorized by Congress. No legislation establishing the $5,000 payment has yet been enacted. Sen. Bernie Moreno, R-Ohio, said after Trump's initial announcement that he planned to prepare legislation to authorize the payments following the Nov. 3 election.

The White House has described the proposal as a dividend made possible by the strength of the U.S. economy and tariff revenue. The administration has not released a detailed mechanism for distributing the money or fully explained how the estimated cost would be financed.