logo
Cash Advance Apps No Credit Check Provide Relief as Online Loan Approval Rates Decline in 2025

Cash Advance Apps No Credit Check Provide Relief as Online Loan Approval Rates Decline in 2025

Yahoo4 days ago

HOUSTON, June 03, 2025 (GLOBE NEWSWIRE) -- As traditional borrowing channels become more difficult to access for millions of Americans, mobile-based cash advance apps are emerging as one of the most sought-after alternatives for short-term financial support in 2025. Viva Payday Loans, a US based online loan connection platform, reports strong year-over-year growth in demand for mobile lending options that do not rely on credit scores or lengthy paperwork.
About Viva Payday Loans
Viva Payday Loans is a US based online cash advance service that helps consumers find access to regulated short-term lending options. The platform connects users to licensed lenders through a single, secure, and mobile-friendly application process. Viva Payday Loans does not charge users to apply and does not perform hard credit checks to display available loan offers.
This trend reflects a larger shift in consumer behavior, where speed, accessibility, and flexibility are increasingly prioritized over conventional banking criteria.
'Borrowers today are looking for solutions that align with how they live and work—digitally, independently, and without rigid credit requirements,' said a spokesperson for Viva Payday Loans. 'We're seeing consistent demand from individuals who may not qualify for traditional loans but still need fast access to emergency funds.'
Cash Advance Apps Gain Momentum Across the U.S.
Mobile cash advance apps which connect borrowers with short-term lending options are quickly becoming a mainstream solution for users with limited or no credit history. These platforms typically rely on soft credit checks and focus more on current income and financial activity, rather than past borrowing behavior.
Among the key reasons users are turning to cash advance apps in 2025:
Speed: Most applications can be completed in minutes, with funds disbursed same-day in many cases.
Accessibility: Accepted income sources often include freelance work, gig economy earnings, or government benefits.
Convenience: The process is fully online, secure, and requires no in-person visits.
Viva Payday Loans Role in the Mobile Lending Landscape
Viva Payday Loans serves as a digital gateway, helping users navigate a growing ecosystem of licensed, short-term lenders across the U.S. Through a single online form, borrowers are matched with potential lenders based on their state, income, and requested loan amount. While Viva itself does not issue loans, its platform is designed to streamline access and promote informed borrowing decisions.
The service is free to use and does not require a hard credit inquiry to view available offers. Loan amounts typically range from $100 to $5,000, depending on state regulations and individual qualifications.
Growing Need for Flexible Financial Solutions
The evolving nature of work in the U.S. from remote jobs to gig-based income has made traditional lending models increasingly incompatible for many consumers. At the same time, inflation and economic uncertainty have increased the demand for quick-turnaround financing to cover expenses such as rent, utilities, medical bills, or auto repairs.
Cash advance apps, as enabled by platforms like Viva Payday Loans, are helping to meet this demand by offering access to time-sensitive funding options without the roadblocks of conventional credit systems.
Looking Ahead
As financial technology continues to evolve, digital platforms are expected to play an even larger role in shaping the future of personal lending. Viva Payday Loans will continue to invest in improving user experience, lender transparency, and access to regulated financial products that meet modern consumer needs.
Media ContactMukesh BhardwajEmail: mukesh@paydayventures.com
This press release is intended for informational purposes only. Viva Payday Loans is not a direct lender. All lending decisions are made by independent third-party providers in accordance with local laws and eligibility requirements. Availability and approval are subject to verification and state regulations.

Orange background

Try Our AI Features

Explore what Daily8 AI can do for you:

Comments

No comments yet...

Related Articles

Diplomatic win for UK hosting US-China trade talks
Diplomatic win for UK hosting US-China trade talks

Yahoo

time16 minutes ago

  • Yahoo

Diplomatic win for UK hosting US-China trade talks

Sky News understands that the Trump administration approached the UK government to ask if it would host round two of the US-China trade talks. This is a useful 'diplo-win' for the UK. The first round was held in Geneva last month. News of that happening came as a surprise. The Chinese and the Americans were in the midst of a Trump-instigated trade war. President Trump was en route to Saudi Arabia and suddenly we got word of talks in Switzerland. They went surprisingly well. US treasury secretary Scott Bessent and his Chinese counterpart He Lifeng, met face-to-face and agreed to suspend most tariffs for 90 days. But two weeks later, the Trump administration accused Beijing of breaking the agreements reached in Geneva. Beijing threw the blame back at Washington. On Wednesday, Donald Trump and Xi Jinping spoke by phone. The Chinese claimed this call was at the Americans' request. Either way, the consequence was that the talks were back on track. "I just concluded a very good phone call with President Xi of China, discussing some of the intricacies of our recently made, and agreed to, trade deal," President Trump said this week. From that call came the impetus for a second round of talks. A venue was needed. In stepped the UK at short notice. Beyond being geographically convenient, UK government sources suggest that Britain is geopolitically in the right place right now to act as this bridge and facilitator. The UK-China relationship is in the process of a "reset". Other locations, like Brussels or other EU capitals, would have been less workable. Crucially too, for the UK, this is also potentially advantageous as it seeks to get its own UK-US trade agreement, to eliminate or massively reduce tariffs, over the line. Talks on reaching the "implementation phase" have been near-continuous since the announcement last month, but having the American principals in London is a plus. Sideline talks are possible, but even the presence of the US team in the UK is helpful. Read more from Sky News:Man wrongly deported from US to El Salvador has been returned to face criminal chargesMore than 40 'narco-boat' drug smugglers arrested in major police sting For all the chaos that President Trump is causing with his tariffs, he has instigated face-to-face conversations as he seeks resets. Key players are sitting down around tables - yes, to untangle the trade knots which Trump tied, but this whole episode has pulled foes together around the same table; it has forced relationships and maybe mutual understanding. That's useful. And for this next round, between superpowers, the UK is the host. Also useful.

Asante Provides Financial and Operating Results for the Quarter Ended April 30, 2025
Asante Provides Financial and Operating Results for the Quarter Ended April 30, 2025

Yahoo

time21 minutes ago

  • Yahoo

Asante Provides Financial and Operating Results for the Quarter Ended April 30, 2025

VANCOUVER, British Columbia, June 06, 2025 (GLOBE NEWSWIRE) -- Asante Gold Corporation (CSE:ASE | GSE:ASG | FRANKFURT:1A9 | ('Asante' or the 'Company') announces the filing of its financial statements and management's discussion and analysis ('MD&A') for the three months ended April 30, 2025 ('Q1 2026'). All dollar figures are in United States dollars unless otherwise indicated. A summary of the financial and operating results for fiscal Q1 2026 are presented in this news release. For a detailed discussion of results for the first quarter, please refer to the Management's Discussion and Analysis filed on SEDAR+ at and Asante's website at Dave Anthony, President and CEO stated, 'We are pleased to report a significant ramp up in stripping operations during the first quarter, including the highest quarterly material movement at Bibiani in more than two years. Commissioning of the sulphide treatment plant will advance through July with full operations in August. Production and cost metrics were in line with annual guidance as noted in our recent five year outlook, which envisages growth to over 500,000 ounces per year by 2028 and free cash flow generation of over $2 billion through 2029. We look forward to updating investors on our financing process, which we expect to conclude by the end of July 2025.' Quarter ended April 30, 2025 Summary Financial Results Three months ended April 30 ($000s USD) except as noted 2025 2024 Financial Results Revenue 141,982 114,311 Total comprehensive loss1 (20,038) (16,036) Adjusted EBITDA2 30,664 13,026 Operations Results Gold equivalent produced (oz) 51,912 53,379 Gold sold (oz) 48,190 53,600 Consolidated average gold price realized per ounce2 ($/oz) 2,946 2,133 AISC2 2,971 1,879 Notes:(1) Total comprehensive loss attributable to shareholders of the Company(2) Non-IFRS measure. For a description of how these measures are calculated and a reconciliation of these measures to the most directly comparable measures specified, defined or determined under IFRS and presented in the Company's financial statements, refer to 'Non-IFRS Measures'. Asante's revenue for the three months ended April 30, 2025 was $142 million, a 24% increase from $114 million in the same period in 2024. The increase in revenue was primarily driven by higher gold prices and partially offset by a lower volume of gold sold. In the three months ended April 30, 2025, the Company realized an average gold price of $2,946 per ounce on the sale of 48,190 gold equivalent ounces, compared to $2,133 per ounce on the sale of 53,600 ounces in the same period in 2024. Adjusted EBITDA for the three months ended April 30, 2025 was $30,664, compared to $13,026 in the same period in 2024. The increase in Adjusted EBITDA reflects gold prices at all-time high only partially offset by a lower volume of gold sold. The Company produced 51,912 gold equivalent ounces for the three months ended April 30, 2025, compared to 53,379 gold equivalent ounces in the same period in 2024. The decrease in gold production in the three-month period ended April 30, 2025 compared to the prior year comparable period was due to lower feed grades at Bibiani. Consolidated AISC increased by 58% for the three months ended April 30, 2025 compared to the same period in 2024 primarily due to additional costs at Bibiani resulting from increased stripping in the Main Pit and lower grade ore. Additionally, higher sustaining capital expenditures at Chirano as well as lower consolidated volume of gold equivalent sold contributed to this increase. Bibiani Mine – Summary of the quarter ended April 30, 2025 Results Three months ended April 30 ($000s USD) except as noted 2025 2024 Waste mined (kt) 11,412 2,472 Ore mined (kt) 558 587 Total material mined (kt) 11,970 3,058 Strip ratio (waste:ore) 20.5 4.2 Ore processed (kt) 581 596 Grade (grams/tonne) 1.33 1.65 Gold recovery (%) 68% 65% Gold equivalent produced (oz) 17,241 19,183 Gold equivalent sold (oz) 16,708 19,363 Revenue ($ in thousands) 46,674 41,309 Average gold price realized per ounce1 2,794 2,133 AISC1 3,693 1,752 Note:(1) Non-IFRS measure. For a description of how these measures are calculated and a reconciliation of these measures to the most directly comparable measures specified, defined or determined under IFRS and presented in the Company's financial statements, refer to 'Non-IFRS Measures'. Total material mined increased by 291.4% in the three months ended April 30, 2025 compared to the three months ended April 30, 2024. In the three months ended April 30, 2025, ore mined totaled 558,133 tonnes, a 4.8% decrease from 586,536 tonnes in the same period in 2024. The increase in total material mined in the three months ended April 30, 2025 and the decrease in ore mined in the three months ended April 30, 2025 reflects the Company's strategy to reduce the waste strip backlog associated with the expansion of the Main Pit, as well as the continued mining activities at the Russel satellite pit. Gold equivalent ounces produced in the three months ended April 30, 2025 was 17,241 compared to 19,183 in the three months ended April 30, 2024. The decrease in the three months ended April 30, 2025 was due to lower grade plant feed, impacted by draws from low-grade stockpiles whilst operations are focused on reducing the backlog of waste stripping. In addition, results were impacted by a high proportion of sulphide ore processed without the benefit of a sulphide treatment plant, which continues to limit gold recovery. AISC increased to $3,693 per ounce in the three months ended April 30, 2025, compared to $1,752 per ounce in the same period of 2024. The increase was primarily due to elevated stripping requirements, lower grade ore processed, and other higher sustaining capital expenditures. Bibiani Mine – Outlook For the year ending January 31, 2026, the Company plans to execute on its growth strategy which includes: The construction, commissioning, and optimization of the sulphide treatment plant with commissioning expected to begin by the end of Q2 2026, and full operations expected to begin in Q3 2026, significantly enhancing gold recovery. Plant throughput expansions including completion of an upgraded crushing system, which has already started and progressing to plan to achieve a throughput increase from 3.0 Mt/y to 4.0 Mt/y and create a robust crushing circuit. Plant upgrades to the carbon-in-leach ('CIL') plant. Road construction connecting Bibiani to Chirano. Backup generator installation to ensure uninterrupted power to operations and reduced plant downtime. Commencement of underground mining. A definitive feasibility study has been completed, with the underground preparation program that already started targeting start of development in Q4 2026. Full production from the underground mine is planned for 2028, with an anticipated delivery of up to 2.6 Mt/year at an average in situ grade of approximately 3.0 g/t Au above the cutoff grade through 2030. Complete the advanced exploration grade control drilling program at Pamunu, Ayiseru, and Asempaneye to facilitate the development of new satellite pits in 2025, with the goal of improving oxide ore feed and maximizing plant throughput. External financing is being arranged to execute this growth strategy. The Company is currently pursuing various financing initiatives, and although there is no certainty that such financing initiatives will be completed, the Company is confident that it will be able to complete such initiatives in the near term. Subject to the availability of sufficient financing, the Company expects to successfully complete the above initiatives and produce between 155,000 and 175,000 gold ounces at Bibiani in the year ending January 31, 2026, including a significant increase in monthly production in the latter part of the fiscal year following advancement of the planned waste stripping program and completion of the sulphide treatment plant. Chirano Mine –Summary of the quarter ended April 30, 2025 Results Three months ended April 30 ($000s USD) except as noted 2025 2024 Open Pit Mining: Waste mined (kt) 1,742 2,734 Ore mined (kt) 321 612 Total material mined (kt) 2,063 3,347 Strip ratio (waste:ore) 5.4 4.5 Underground Mining: Waste mined (kt) 204 210 Ore mined (kt) 461 460 Total material mined (kt) 665 670 Ore processed (kt) 929 840 Grade (grams/tonne) 1.31 1.47 Gold recovery (%) 86% 86% Gold equivalent produced (oz) 34,671 34,196 Gold equivalent sold (oz) 31,482 34,236 Revenue ($ in thousands) 95,308 73,002 Average gold price realized per ounce1 3,027 2,132 AISC1 2,587 1,951 Note:(1) Non-IFRS measure. For a description of how these measures are calculated and a reconciliation of these measures to the most directly comparable measures specified, defined or determined under IFRS and presented in the Company's financial statements, refer to 'Non-IFRS Measures'. Ore mined from open pit mining decreased by 47.6% in the three months ended April 30, 2025 compared to the same period in 2024. Ore mined decreased in the three months ended April 30, 2025, due to decreased ore mining activity as a result of a focus on stripping activities at the Mamnao central, and Aboduabo open pits. Ore mined from underground mining was relatively constant in the three months ended April 30, 2025, compared to the same period in 2024. Obra, Suraw and Akwaaba were the contributors of underground material in the three months ended April 30, 2025 whilst development started at Akoti Far South to establish another stopping area, improving flexibility. Ore processed increased by 10.6% in the three months ended April 30, 2025 compared to the same period in 2024. The increase was mainly due to greater power availability and realised benefits from plant throughput improvement project initiatives. In the three months ended April 30, 2025, ore grade processed decreased to 1.31 grams per tonne (2024 - 1.47 grams per tonne) due to proportionally more plant feed from low grade stockpiles rehandled in 2025 as opposed to open pit ore in the comparable period. The increased in ore processed, offset by lower ore grades, resulted in marginal increased gold equivalent ounces produced of 34,671 ounces in the three months ended April 30, 2025 compared to 34,196 ounces in the three months ended April 30, 2024. AISC increased to $2,587 per ounce in the three months ended April 30, 2025 compared to $1,951 per ounce in the same period of 2024. This increase was primarily driven by higher sustaining capital expenditures and higher indirect costs associated with production as well as lower volume of gold equivalent sold. Chirano Mine – Outlook For the year ending January 31, 2026, the Company plans to execute on its growth strategy which includes: Execution of process plant projects as planned to improve performance and increase the annual mine production rate to 4Mt/annum. This includes vibrating screen for primary jaw crusher installation, run-of-mine bin refurbishment, apron feeder upgrade, cyclone feed hopper upgrade, carbon regeneration kilns upgrade, mill 2 feed end and half shell replacement, installation of 12-ton acid wash and elution columns, installation of thermic oil heaters, water storage facility construction, TSF1 SE stage 2 raise and TSF3 construction. Underground development of the Akwaaba, Tano and Akoti far south mines to ensure robust underground ore delivery. Development of exploration drifts towards the north to explore and target the reclassification of the resource at Sariehu and Mamnao underground mines and to reaffirm the north mine concept of existing continuity between Obra and Sariehu underground deposits. Start of Aboduabo open pit oxide mining. Ongoing underground exploration projects at the Suraw, Obra and open pit mine life extension projects at the Sariehu/Mamnao area are progressing as planned. The Company expects to produce between 155,000 and 175,000 gold ounces at Chirano for the year ending January 31, 2026. Qualified Person Statement The scientific and technical information contained in this news release has been reviewed and approved by David Anthony, Mining and Mineral Processing, President and CEO of Asante, who is a "qualified person" under NI 43-101. Non-IFRS Measures This news release includes certain terms or performance measures commonly used in the mining industry that are not defined under International Financial Reporting Standards ('IFRS'), including 'all-in sustaining costs' (or 'AISC'), 'earnings before interest, taxes, depreciation and amortization' (or 'EBITDA'), and free cash flow. Non-IFRS measures do not have any standardized meaning prescribed under IFRS, and therefore they may not be comparable to similar measures employed by other companies. The data presented is intended to provide additional information and should not be considered in isolation or as a substitute for measures of performance prepared in accordance with IFRS and should be read in conjunction with Asante's consolidated financial statements. Readers should refer to Asante's Management Discussion and Analysis under the heading "Non-IFRS Measures" for a more detailed discussion of how Asante calculates certain of such measures and a reconciliation of certain measures to IFRS terms. About Asante Gold Corporation Asante is a gold exploration, development and operating company with a high-quality portfolio of projects and mines in Ghana. Asante is currently operating the Bibiani and Chirano Gold Mines and continues with detailed technical studies at its Kubi Gold Project. All mines and exploration projects are located on the prolific Bibiani and Ashanti Gold Belts. Asante has an experienced and skilled team of mine finders, builders and operators, with extensive experience in Ghana. The Company is listed on the Canadian Securities Exchange, the Ghana Stock Exchange and the Frankfurt Stock Exchange. Asante is also exploring its Keyhole, Fahiakoba and Betenase projects for new discoveries, all adjoining or along strike of major gold mines near the centre of Ghana's Golden Triangle. Additional information is available on the Company's website at About the Bibiani Gold Mine Bibiani is an operating open pit gold mine situated in the Western North Region of Ghana, with previous gold production of more than 4.5 million ounces. It is fully permitted with available mining and processing infrastructure on-site consisting of a newly refurbished 3 million tonne per annum process plant and existing mining infrastructure. Asante commenced mining at Bibiani in late February 2022 with the first gold pour announced on July 7, 2022. Commercial production was announced November 10, 2022. For additional information relating to the mineral resource and mineral reserve estimates for the Bibiani Gold Mine, please refer to the 2024 Bibiani Technical Report filed on the Company's SEDAR profile ( on April 30, 2024. About the Chirano Gold Mine Chirano is an operating open pit and underground mine located in the Western Region of Ghana, immediately south of the Company's Bibiani Gold Mine. Chirano was first explored and developed in 1996 and began production in October 2005. The mine comprises the Akwaaba, Suraw, Akoti South, Akoti North, Akoti Extended, Paboase, Tano, Obra South, Obra, Sariehu and Mamnao open pits and the Akwaaba and Paboase underground mines. For additional information relating to the mineral resource and mineral reserve estimates for the Chirano Gold Mine, please refer to the 2024 Chirano Technical Report filed on the Company's SEDAR profile ( on April 30, 2024. For further information please contact: Dave Anthony, President and CEOFrederick Attakumah, Executive Vice President and Country Director info@ 604 661 9400 or +233 303 972 147 Cautionary Statement on Forward-Looking Statements Certain statements in this news release constitute forward-looking statements or forward-looking information. All statements, other than statements of historical fact, are forward-looking statements or information. Forward-looking statements or information in this news release relate to, among other things: production, free cash flow and all-in sustaining costs forecasts for the Bibiani and Chirano Gold Mines, estimated mineral resources, reserves, exploration results and potential, development programs, expansion and mine life extension opportunities, completion and timing of plant upgrades, commencement of underground mining, and completion and timing of external financing by the Company. These forward-looking statements and information reflect the Company's current views with respect to future events and are necessarily based upon a number of assumptions that, while considered reasonable by the Company, are inherently subject to significant operational, business, economic and regulatory uncertainties and contingencies. These assumptions include: the impact of inflation and disruptions to the global, regional and local supply chains; tonnage of mineralized material to be mined and processed; future anticipated prices for gold and assumed foreign exchange rates; the timing and impact of planned capital expenditure projects, including anticipated sustaining, project, and exploration expenditures; risks related to increased barriers to trade, including tariffs and duties; ore grades and recoveries; capital, decommissioning and reclamation estimates; our mineral reserve and mineral resource estimates and the assumptions upon which they are based; prices for energy inputs, labour, materials, supplies and services (including transportation); no labour-related disruptions at any of our operations; no unplanned delays or interruptions in scheduled production; all necessary permits, licenses and regulatory approvals for our operations are received in a timely manner; our ability to secure and maintain title and ownership to mineral properties and the surface rights necessary for our operations, including contractual rights from third parties and adjacent property owners; whether the Company is able to maintain a strong financial condition and have sufficient capital, or have access to capital, to sustain our business and operations; and our ability to comply with environmental, health and safety laws. The foregoing list of assumptions is not exhaustive. Forward-looking statements involve risks, uncertainties and other factors that could cause actual results, performance, prospects, and opportunities to differ materially from those expressed or implied by such forward-looking statements. Factors that could cause actual results to differ materially from these forward-looking statements include, but are not limited to, the duration and effect of local and world-wide inflationary pressures and the potential for economic recessions; fluctuations in the price of gold; fluctuations in currency markets; operational risks and hazards inherent with the business of mining (including environmental accidents and hazards, industrial accidents, equipment breakdown, unusual or unexpected geological or structural formations, cave-ins, flooding and severe weather); risks relating to the credit worthiness or financial condition of suppliers, refiners and other parties with whom the Company does business; inadequate insurance, or inability to obtain insurance, to cover these risks and hazards; employee relations; relationships and claims by local communities; changes in laws, regulations and government practices in the jurisdictions where we operate, including environmental, export and import laws and regulations; changes in national and local government, legislation, taxation, controls or regulations and political, legal or economic developments in countries where the Company may carry on business, including legal restrictions relating to mining, risks relating to expropriation; variations in the nature, quality and quantity of any mineral deposits that may be located, the Company's inability to obtain any necessary permits, consents or authorizations required for its planned activities, the Company's inability to raise the necessary capital or to be fully able to implement its business and growth strategies, and those risk factors identified in the Company's management's discussions and analysis and the most recent annual information form. The reader is referred to the Company's public disclosure record which is available on SEDAR ( Although the Company believes that the assumptions and factors used in preparing the forward-looking statements are reasonable, undue reliance should not be placed on these statements, which only apply as of the date of this news release, and no assurance can be given that such events will occur in the disclosed time frames or at all. Except as required by securities laws and the policies of the securities exchanges on which the Company is listed, the Company disclaims any intention or obligation to update or revise any forward-looking statement, whether as a result of new information, future events or otherwise. LEI Number: 529900F9PV1G9S5YD446. Neither IIROC nor any stock exchange or other securities regulatory authority accepts responsibility for the adequacy or accuracy of this in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data

Is a $5,000 DOGE stimulus check a real thing? What we know
Is a $5,000 DOGE stimulus check a real thing? What we know

Yahoo

time40 minutes ago

  • Yahoo

Is a $5,000 DOGE stimulus check a real thing? What we know

In February, President Donald Trump said he was considering a plan to pay out $5,000 stimulus checks to American taxpayers from the savings identified by billionaire Elon Musk's Department of Government Efficiency (DOGE). Are they happening? No official plan or schedule for such a payout has been released, and a decision on the checks would have to come from Congress, which has so far been cool to the idea. And there have been questions as to how much DOGE has actually saved. The idea was floated by Azoria investment firm CEO James Fishback, who suggested on Musk's social media platform X that Trump and Musk should "should announce a 'DOGE Dividend'" from the money saved from reductions in government waste and workforce since it was American taxpayer money in the first place. He even submitted a proposal for how it would work, with a timeline for after the expiration of DOGE in July 2026. "At $2 trillion in DOGE savings and 78 million tax-paying households, this is a $5,000 refund per household, with the remaining used to pay down the national debt," he said in a separate post. Musk replied, "Will check with the President." "We're considering giving 20% of the DOGE savings to American citizens and 20% to paying down the debt," Trump said in a during the Saudi-sponsored FII PRIORITY Summit in Miami Beach the same month. DOGE has dismantled entire federal agencies, wiped out government contracts and led the firings of tens of thousands of federal workers, leaving many agencies struggling to continue operations. DOGE checks? Elon Musk dodges DOGE stimulus check question during Wisconsin rally: Here's what he said. Fishbeck suggested that the potential refund go only to households that are net-income taxpayers, or households that pay more in taxes than they get back. The Pew Research Center said that most Americans with an adjusted gross income of under $40,000 effectively pay no federal income tax. They would not be eligible. If DOGE achieves Musk's initial goal of stripping $2 trillion from U.S. government spending by 2026, Fishback's plan was for $5,000 per household, or 20% of the savings divided by the number of eligible households. If DOGE doesn't hit the goal, Fishback said the amount should be adjusted accordingly. 'So again, if the savings are only $1 trillion, which I think is awfully low, the check goes from $5,000 to $2,500,' Fishback said during a podcast appearance. 'If the savings are only $500 billion, which, again, is really, really low, then the [checks] are only $1,250.' However, while Musk talked about saving $2 trillion in federal spending during Trump's campaign, he lowered the goal to $1 trillion after Trump assumed office and said in March he was on pace to hit that goal by the end of May. At a Cabinet meeting in April, Musk lowered the projected savings further to $150 billion in fiscal year 2026. Musk left the White House at the end of May when his designation as a "special government employee" ended. DOGE, the advisory group he created, is expected to continue without him. That depends on who you ask. On its website, DOGE claims to have saved an estimated $175 billion as of May 30, "a combination of asset sales, contract and lease cancellations and renegotiations, fraud and improper payment deletions, grant cancellations, interest savings, programmatic changes, regulatory savings, and workforce reductions." The site says that works out to $1,086.96 saved per taxpayer. However, many of DOGE's claims have been exaggerated and several of the initiatives to slash agency workforces have been challenged in court. DOGE has been accused of taking credit for contracts that were canceled before DOGE was created, failing to factor in funds the government is required to pay even if a contract is canceled, and tallying every contract by the most that could possibly be spent on it even when nothing near that amount had been obligated. The website list has been changed as the media pointed out errors, such as a claim that an $8 million savings was actually $8 billion. On May 30, CNN reported that one of its reporters found that less than half the $175 billion figure was backed up with even basic documentation, making verification difficult if not impossible. Some of the changes may also end up costing taxpayers more, such as proposed slashes to the Internal Revenue Service that experts say would mean less tax revenue generated, resulting in a net cost of about $6.8 billion. Over the next 10 years, if IRS staffing stays low, the cumulative cost in uncollected taxes would hit $159 billion, according to the nonpartisan Budget Lab at Yale University. The per-taxpayer claim on the website is also inflated, CNN said, as it's based on '161 million individual federal taxpayers' and doesn't seem to include married people filing jointly. This article originally appeared on Florida Times-Union: DOGE dividends: Will American taxpayers get a $5,000 check?

DOWNLOAD THE APP

Get Started Now: Download the App

Ready to dive into the world of global news and events? Download our app today from your preferred app store and start exploring.
app-storeplay-store