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Hassett Briefs Reporters on Tariff Rebate Checks and the 50-Year Mortgage, Nov. 10, 2025

November 10, 2025 · Roll Call Factbase Videos · 0:05:29

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What happened

National Economic Council Director Kevin Hassett spoke to reporters outside the White House on November 10, 2025, in Roll Call Factbase Videos’ recording. On the $2,000 rebate checks the President had discussed, Hassett said the administration had studied the matter in the summer and then thought deficit reduction might be the best use of the money, but a big surge in tax revenues — including a bit of a surplus in the latest monthly Treasury report, as he stated it — meant Congress and the President would reconsider. He declined to give a total cost, saying it depended on where the eligibility cutoffs were set, and said estimates of all the different options existed. On tariff revenue overall, he pointed to the Customs and Border Protection updates and put the latest figure for the year so far at around $200 billion, as he stated it.

On prices, Hassett said inflation averaged 5% under President Biden and was running at about 2.5% now, that purchasing power had dropped by more than $3,000 under the prior administration and was up by about $1,200 this year — improving, but with the gap not yet closed, which was why people still felt the pain of higher prices, as he stated it. On the 50-year mortgage, he said mortgage payments had about doubled when rates rose by about four percentage points under President Biden, that extending the term could reduce monthly payments by hundreds of dollars, and that the administration was taking the idea very seriously, with legal analysis underway on whether legislation would be required, as he stated it.

Why it matters

The gaggle is the first on-record NEC walk-through of the two biggest affordability ideas of the shutdown’s final week: the tariff-funded $2,000 checks, revived by the revenue surge, and the 50-year mortgage.

Scoreboard watch

Scoreboard watch: the $2,000 rebate-check reconsideration, the ~$200 billion tariff-revenue figure and the 50-year-mortgage study as Hassett stated them on November 10, 2025 — flagged for the scoreboard editors; the entry itself remains review-gated.

Sources: Roll Call Factbase Videos, ‘Press Briefing: Kevin Hassett Speaks to Reporters Outside the White House — November 10, 2025,’ November 10, 2025 (video Y3s3RHxEIJQ); transcript via Supadata (private research store, paraphrased and attributed, never republished verbatim).