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

In a statement to ABC News, Democratic Sen. John Fetterman defended his decision to introduce his Republican colleague and fellow Pennsylvanian Sen. Dave McCormick via video at the convention, calling McCormick a "great American and friend."

"We are in different parties, but we are both Team PA," Fetterman said.

Fetterman also committed to remaining in the Democratic Party.

"I'm a lifelong Democrat who votes overwhelmingly with my party — and should the Senate flip in November, I will still be the 51st vote that I ran on," he said later in his statement.

-ABC News’ Hannah Demissie and Olivia Osteen

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