Trump Indicates Plan To Lower or Eliminate Income Taxes Thanks To Tariffs

This could be huge…

President Donald Trump said that some people’s income taxes will be lowered or perhaps even completely eliminated due to tariffs.

“When Tariffs cut in, many people’s Income Taxes will be substantially reduced, maybe even completely eliminated. Focus will be on people making less than $200,000 a year,” he declared in a post on Truth Social.

“Also, 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 president added.

The president touched on the subjects of income taxes and tariffs while addressing reporters on Sunday.

“And eventually we’ll be reducing taxes very substantially for the people of our country, because the money is so great coming in from tariffs that I’ll be able to reduce taxes … to a very large extent, and maybe almost completely,” he said.

“And it’s possible we’ll do a complete tax cut, because I think the tariffs will be enough to cut all of the income tax,” he noted. 

The president indicated Americans will be given “a tremendous tax cut,” starting “with people making less than $200,000 dollars a year.”

Trump, who has been in the Oval Office for nearly 100 days, has moved at breakneck speed to revitalize America.

Speaker Mike Johnson (R-La.) told Fox News exclusively that President Donald Trump has accomplished more in the first 100 days of his tenure than “most politicians or presidents accomplish in their entire lifetimes.”

“So much of what we’ve done is leading up to the big reconciliation bill, and that is the legislative vehicle, as I’ve explained to people, it will help us, through which we will deliver the president’s America First agenda,” Johnson told Fox News Digital.

“We’ve done it with arguably the smallest margin in the history of the Congress, so challenges every day, but it’s been very rewarding to lead us through that.”

 The speaker also acknowledged that Trump has acted quite a bit on his own, as well.

“He’s issued, I think, 110 executive orders and many other executive actions. And we’ve been working to codify so much of that. It’s been kind of a partnership,” Johnson said.

“I don’t think we’ve ceded any authority. I think that he’s doing what is within his scope to do. There’s an assumption made by Congress that the administration, whoever is in the administration, will use the money that is appropriated to the executive branch as a good steward, that they will take every measure possible to prevent fraud, waste and abuse,” Johnson said. 

“And tariffs as well – the president, whomever is president, has a responsibility and I think an expectation from Congress that they will deal with unfair trade partners around the globe.”

However, while many conservatives have praised Trump’s recent accomplishments, many Democrats have openly decried the moves and spurred concerns they will seek to impeach Trump if they regain control of Congress.

CNN host Dana Bash recently asked Senate Minority Leader Chuck Schumer if he agreed with Sen. Jon Ossoff (D-Ga.) who signaled recently that he would support an impeachment effort against Trump.

“Would that be a priority if Democrats were to take back Congress?” Bash asked. 

“President Trump is violating rule of law in every way. And we’re fighting him every single day in every way. And our goal is to show the American people over and over again, whether it’s the economy, whether it’s tariffs, whether it’s Russia and overseas and whether it’s rule of law, how bad he is. And you know, two years is too far away to predict. Our job is day to day to day, to show who Trump is, what he is doing, and it’s having an effect,” Schumer said.

Bash pressed him further and said, “You’re not saying ‘no.’”

“Look, it’s too far away to even judge,” Schumer responded.

Ossoff signaled support for impeaching Trump during a town hall event in Georgia.

“I saw just 48 hours ago, [Trump] is granting audiences to people who buy his meme coin,” Ossoff said. “There is no question that that rises to the level of an impeachable offense. And the reality is that that’s just one of many [examples] — defying a federal court order, for example.”