President Donald Trump said that some people’s income taxes will be reduced or may even be eliminated completely due to tariffs.
“When the tariffs are reduced, the income taxes of many people will be reduced substantially, perhaps they are even completely eliminated. The approach will be in people who earn less than $ 200,000 a year,” he said in a publication on Truth Social.
“In addition, a massive number of works are already being created, with new plants and factories that are currently building or planning. It will be a bonanza for the United States! The president added.
Trump says there is a ‘true opportunity’, tariffs could replace income tax
The President discussed the Income Tax and Tariffs while talking to journalists on Sunday.
“And we will eventually reduce taxes very substantially for the people of our country, because money is so large of tariffs that I can reduce taxes … largely, and perhaps almost completely,” he said.
Trump proposes the abolition of the Federal Income Tax, returning to the “richest period” in history
“And we may make a complete tax cut, because I think the tariffs will be enough to reduce the entire income tax,” he said.
The president indicated that Americans will receive “a tremendous tax cut,” starting “with people who earn less than $ 200,000 a year.”
Trump begins the Torbellino Week that marks his day 100 at the Oval Office
Trump, who will mark the milestone of the 100 days of his second term this week, is scheduled to celebrate a demonstration in Michigan on Tuesday.
