Trump floats income tax cut to ease tariff impact
Share and Follow


President Trump floated a new income tax cut on Sunday as a way to mitigate the impact of his sweeping tariffs, which polls show Americans increasingly believe will lead to higher prices.

“When Tariffs cut in, many people’s Income Taxes will be substantially reduced, maybe even completely eliminated,” Trump wrote in a post on his Truth Social platform on Sunday.

“Focus will be on people making less than $200,000 a year,” he continued.

Trump defended the strategy behind his steep tariffs in his post, maintaining “massive numbers of jobs are already being created, with new plants and factories currently being built or planned. It will be a BONANZA FOR AMERICA!!! THE EXTERNAL REVENUE SERVICE IS HAPPENING!!!”

The comments echo previous suggestions from the president about potentially getting rid of federal income tax altogether and replacing it with tariffs or other levies. Some economists have raised questions about the feasibility of generating sufficient revenue through tariffs.

Trump announced several waves of tariffs since taking office in January, including a 10 percent baseline and higher “reciprocal” tariffs on individual nations. Those higher tariffs on dozens of countries were paused to let nations try to make deals to avoid facing the steep levies.

Most of the country-specific tariffs proposed by Trump are slated to take effect in July — barring any new trade deals or policy shifts ahead of that deadline — after he paused them for 90 days.

However, tariffs on goods from China, Mexico and Canada, as well global levies on items such as automobiles and steel and aluminum, have already taken effect and disrupted global markets.

A recent Associated Press-NORC Research poll found 3 in 4 Americans expect Trump’s tariff policies to raise the price of consumer goods in the U.S. At least 6 in 10 Americans said in an NBC News Stay Tuned survey released Sunday they disapprove of Trump’s handling of trade and tariffs as well as inflation.

Trump’s latest comments came a day before Congress is set to return to Washington, with the president’s Republican allies on Capitol Hill determined to pass his legislative agenda, including extending his signature 2017 tax cuts.

Share and Follow
You May Also Like

Iran threatens to ramp up enrichment of nuke-grade uranium AGAIN – just 24 days after Trump bombed ‘Mount Doom’ facility

IRAN has again threatened to ramp up enrichment of its near-weapons-grade uranium…

Andrew Cuomo Refuses to Step Back Quietly, Faces Backlash for Awkward Campaign Video on Social Media

On Wednesday, disgraced Former New York Gov. Andrew Cuomo, who lost a…

Key prosecutor on Jeffrey Epstein and Diddy cases Maurene Comey sacked by DOJ

THE prosecutor in the Jeffrey Epstein trial has been fired from the…

GOP rep on Trump, Epstein files: 'This is not a good moment'

Rep. Eric Burlison (R-Mo.) on Wednesday discussed the ongoing uproar over files…

Furious Trump lays into ‘bulls**t’ Epstein murder ‘HOAX’… but admits MAGA fans are falling for it ‘hook line and sinker’

A FURIOUS Donald Trump has lashed out at the “bulls**t Epstein murder…

Memo Highlights Potential Bias of D.C. Judge James Boasberg Against Former President Trump

A newly surfaced memo reveals that D.C. judges — namely, federal judge…

Eco-loving Harry Potter star Emma Watson is BANNED from driving after 4th speeding offence in just two years

HARRY Potter star Emma Watson has been banned from driving for six…

Tragic ‘dear mom’ note sent by Camp Mystic victim, 8, revealed following Texas floods – after family’s double tragedy

A MOM who lost her daughter in the floods that swept through…