President Donald Trump hinted at a sweeping shift in U.S. federal tax policy, suggesting that the massive tariff revenues that the government is earning could go towards offering significant relief for low and middle-income taxpayers.
Plans To ‘Substantially’ Cut Income Tax
Speaking to U.S. military service members via a video call on Thanksgiving, Trump said, “over the next couple of years,” the United States will be “substantially” cutting, or even “completely” eliminating the federal income tax, without offering any other specifics or a timeline for this shift.