Live updates: Trump promises $5K 'dividend' to all adult Amercians if GOP keeps control of Congress

Trump promised the convention crowd that he'll issue a $5,000 "dividend" to all adult Americans if Republicans keep control of the House and Senate in the midterm elections.

"Because of our tremendous strength and success economically, I will issue a dividend to every adult citizen in the United States of America for $5,000," Trump said, likening it to what "a successful company will do a cash distribution to its shareholders."

Trump said the only condition attached is that the money must be spent in the U.S.

Treasury Secretary Scott Bessent argued that "it's a time for choosing" in the upcoming elections, arguing Trump is urging voters to prevent the "socialist hellscape" he says America will turn into if Republicans lose their majority -- while presenting the economy in positive terms.

"As it turns out, Washington wasn't incapable of working for the American people. All we needed was a new president," Bessent said, later adding, "President Trump has turned this country around once before, and he's doing it again."

Bessent also touted Trump's tariffs strategy.

"The president's plan was never just a tax cut, never just a tax cut. His economic program is bolstered by trade deals and deregulation, and tonight, a new industrial super cycle is moving," he said. "From investment into production, blueprints to paychecks, everything from GDP to factory payrolls is firing up."

Despite costs rising today as well, Bessent pointed to cost-of-living pressures in previous years, and blamed "the radical left" for it.

-ABC News' Fritz Farrow

As the president began his speech, there were several rows of empty seats in some pockets in the American Airlines Center.

Trump often brags about crowd size and loves to see a packed arena.

-ABC News’ Rachel Scott

Trump told the crowd at American Airlines Center that Republicans need to vote like he's on the ballot in November.

"This has been the most successful two years, financially and every other way in the history of the presidency," Trump said.

"So I'm asking you to pretend that I'm on the ballot. I'm on the ballot. I'm on the ballot. Just one more time, because if we lose, you're going to lose your border. You're going to lose your tax cuts. You're going to lose your safety and security. you're going to lose your wealth. Our country is going through hell. You will be going through hell, just like you did just two years ago," he said.