{"id":11024,"date":"2025-11-28T12:53:01","date_gmt":"2025-11-28T17:53:01","guid":{"rendered":"https:\/\/greatamericanewsdesk.com\/?p=11024"},"modified":"2025-11-28T12:53:03","modified_gmt":"2025-11-28T17:53:03","slug":"trump-says-u-s-may-almost-completely-scrap-income-tax-due-to-tariff-revenue","status":"publish","type":"post","link":"https:\/\/greatamericanewsdesk.com\/economics\/trump-says-u-s-may-almost-completely-scrap-income-tax-due-to-tariff-revenue\/njackson\/2025\/11\/","title":{"rendered":"Trump Says U.S. May \u2018Almost Completely\u2019 Scrap Income Tax Due to Tariff Revenue"},"content":{"rendered":"\n

<\/em><\/a><\/p>\n\n\n\n

<\/a><\/a><\/a>President Donald Trump late Thursday said that the United States may \u201calmost completely\u201d eliminate the income tax due to the rising tariff revenue.<\/p>\n\n\n\n

\u201cIn the next couple of years, I think we\u2019ll substantially be cutting, or maybe cutting out completely, but we\u2019ll be cutting income tax,\u201d Trump said<\/a> during an event on Thursday.<\/p>\n\n\n\n

\u201cCould be almost completely cutting it because the money we\u2019re taking in is going to be so large,\u201d he added.<\/p>\n\n\n\n

The Congressional Budget Office (CBO) in June projected<\/a> that the tariff increases will reduce the federal deficit by $2.8 trillion over the next decade.<\/p>\n\n\n\n

Breitbart News\u00a0reports:<\/p>\n\n\n\n

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The tariff estimate covers measures implemented between January 6 and May 13, 2025. These include a 30 percent levy on imports from China and Hong Kong, 25 percent duties on autos, auto parts, steel, and aluminum, a 10 percent general tariff on most other imports, and the elimination of duty-free treatment for low-value Chinese shipments.<\/p>\n\n\n\n

CBO estimates that, before accounting for economic side effects, the new tariffs will reduce primary deficits by $2.5 trillion and cut interest payments by another $500 billion, for a total deficit reduction of $3.0 trillion. After factoring in modest economic drag \u2014 slightly lower GDP and temporarily higher inflation \u2014 the net deficit reduction is pegged at $2.8 trillion.<\/p>\n<\/blockquote>\n\n\n\n

Watch:<\/strong><\/p>\n\n\n\n

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\ud83d\udea8 BREAKING: President Trump confirms he might totally ELIMINATE the federal income tax

This would be HUGE \ud83d\udc40

"Within the next couple years, we'll substantially be cutting – or cutting out COMPLETELY…income tax. Could be almost completely cutting it [because of tariffs]." pic.twitter.com\/SNclF0Q5Pl<\/a><\/p>— Eric Daugherty (@EricLDaugh) November 28, 2025<\/a><\/blockquote>