For decades, a hidden income stream has quietly lined the pockets of Washington insiders, hedge fund billionaires, and deep-pocketed elites, while hardworking Americans have been shut out.
Jason Williams says “Tariff Rebate Checks” end the inequality.
The Teaser
These aren’t stimulus checks, handouts or charity. But rather federally mandated payouts.
Jason William's full-time job is to uncover little-known income streams like “Tariff Rebate Checks,” as a financial analyst.
If you're at all familiar with Jason's work, this has been a recurring theme. We have previously reviewed his Stimulus Stipends and Robot Royalties teasers.
In this one Jason is talking about a form of payout that we can start collecting if we're not federal employees and have as little as $10 to our name.
These payouts are also worth as much as $8,276 every single quarter.
Another clue we get is that the money behind “Tariff Rebate Checks” is drawn from the Treasury’s General Fund, the same pool Congress uses to finance virtually every federal agency, from the FDA to the VA to the IRS.
Apparently, the source of these payouts go back to a three-page memo Jason discovered while going through the White House's latest press releases one night. A strange hobby, but to each his own.
That memo was titled Delivering Emergency Price Relief for American Families and is dated January 20, 2025.
The memo was vague, saying:
I hereby order the heads of all executive departments and agencies to deliver emergency price relief, consistent with applicable law, to the American people and increase the prosperity of the American worker
However, we do know that income collected from taxing foreign imports (tariffs) have gone directly into the Treasury’s General Fund, the same pool of money used to fund nearly every major federal agency.
This is where the opportunity begins…
The Pitch
Step-by-step instructions on how to collect “Tariff Rebate Checks” have been disclosed in a report called: Tariff Rebate Checks: How to Collect up to $8,276 Every Quarter From Trump's New America-First Trade Plan.
To access it we'll need a subscription to Angel Publishing's The Wealth Advisory newsletter.
This would set us back $99 for the first year and includes a generous 180-day money-back guarantee.
The Real Source of Guaranteed Government Payments
To get to the bottom of anything, follow the money.
This is as true for Twitter investigations as it is for this teaser.
If we follow the money trail of billions in tariff revenue, we'll see that it flowed into the Treasury Department's general fund. However, portion of that revenue is then allocated directly into another fund, the Federal Buildings Fund.
Interestingly, this is the account the government uses to pay rent on thousands of federal buildings from coast to coast.
Herein lies the key to Jason's “Tariff Rebate Checks.”
What many people don't realize is that Washington doesn't actually own many of the buildings they operate out of. Federal agencies like the CIA, IRS, FDA, EPA, and many more all operate out of leased buildings.
The government simply pools all of these rent payments into the Federal Buildings Fund, which then pays a little-known private landlord whose biggest tenant is Uncle Sam.
Jason also states:
One law practically forces these partners to distribute 90% of the cash they receive
He's referring to Section 857(a)(1)(A) of the Internal Revenue Code, which states that 90% of real estate investment trust (REIT) income must be distributed to unit holders.
So we now know that massive, guaranteed “Tariff Rebate Checks” are actually REIT dividends.
It's a lot of mental maneuvering, but technically these dividends are virtually risk-free payments by the U.S. government, funded in part by tariff revenue.
All told, the federal government pays out nearly $6 billion annually on more than 7,500 buildings and sites across the U.S. Of course, not all of it is to publicly-traded REITs, but hundreds of millions is, so the sums are substantial.
The only thing left to find out is the name of the federal landlord(s) raking in all of these government rent payments.
Revealing Jason Williams' Tariff Rebate Check Payout Provider
The rest of Jason's presentation is filled with newsletter subscriber testimonials and promises of larger payments every quarter that make an early retirement possible.
No clues or hints about any REITs.
However, we did some digging and found the names of the largest public REITs that the federal government is a tenant of:
- Easterly Government Properties Inc. (NYSE: DEA): The largest gov REIT with more than 90% of it's properties leased to the FBI, DEA, VA, and other agencies.
- COPT Defense Properties (NYSE: CDP): In the same boat as DEA, with 90%+ of income coming from government and defense contractors supporting government missions.
- JBG Smith Properties (NYSE: JBGS): Heavy concentration in Washington D.C., with federal government and government contractors making up over 50% of tenants.
Any of these could realistically be Jason's pick.
But which one is the better buy right now?
The Path to an Early Retirement?
Our timing here could not be better.
As anyone not living under a rock already knows, the Trump admin's tariffs are now up in the air like a Chinese spy balloon after the Supreme Court ruled that they must be ratified by Congress.
This could take away Jason's primary catalyst for more revenue flowing into the Treasury’s General Fund and higher rents paid out to government property owners.
However, negative macro events like this are always an investment opportunity.
REITs like Easterly and COPT dropped slightly on the tariff news and shrinking the federal government’s real estate portfolio is a top priority of the President.
But beyond the headlines, steady, consistent, government-backed income streams remain in place.
As of last year, the weighted average of lease term for COPT was 13.1 years. For Easterly, it's approximately 9.5 years.
Ask any landlord who is in it for the cash flow and not a quick flip if they would like a guaranteed stream of income for the next decade plus from the largest commercial tenant in the country and the answer will be a resounding ‘yes'!
This is what we can buy into, with annual yields ranging from just over 4% to nearly 8%.
As in life, there are tradeoffs to consider.
For example, Easterly Government Properties currently offers the lowest Funds From Operations (FFO) multiple of the three stocks mentioned.
However, it's leverage ratio is not good.
COPT on the other hand, has the lowest leverage ratio among the three, with a net debt to EBITDA ratio of approximately 6x (anything below five or six times is considered good).
It also has the most defensible property portfolio, pun intended, as the defense budget will be the last thing to get cut.
Combine this with a decent FFO multiple of 10.4x, healthy development pipeline, and 27-year dividend history, it is the standout.
REIT dividends can be a solid source of income in retirement, but as a Roman philosopher once said “you need money to make money.”
Quick Recap & Conclusion
- 15-year financial analyst Jason Williams is teasing something he calls “Tariff Rebate Checks“.
- It turns out that these are actually dividends from publicly-traded REITs that own properties leased to the federal government.
- Jason's top pick is only disclosed in a report called: Tariff Rebate Checks: How to Collect up to $8,276 Every Quarter From Trump's New America-First Trade Plan. It can be ours with a subscription to Angel Publishing's The Wealth Advisory newsletter, which costs $99 upfront for the first year.
- Not a single clue was left in the teaser, but we did find and report on three obvious possibilities: Easterly Government Properties Inc. (NYSE: DEA), COPT Defense Properties (NYSE: CDP), and JBG SMITH Properties (NYSE: JBGS).
- COPT is the standout of the three, with a moderate FFO multiple, decades long dividend history, and a defense/IT oriented property portfolio.
Do you currently receive “Tariff Rebate Checks” (government property REIT dividends)? Tell us what REIT is your favorite in the comments.