BREAKING: Trump says US may completely cut income tax in ‘next couple of years’
President Trump said tariff revenue could be large enough to replace the current income tax system.
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President Trump said tariff revenue could be large enough to replace the current income tax system.
President Donald Trump said Thursday that the United States may “completely” cut federal income taxes in the coming years, saying that new tariff revenue would be large enough to replace the current tax system. Speaking during his Thanksgiving address, Trump said,
“The next couple of years I think we’ll be substantially cutting, and maybe cutting out completely, but we’ll be cutting income tax. Could be almost completely cutting it because the money we’re going to be taking in is so large. Other countries have been ripping us off for many years.”
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View on XThe comments build on remarks Trump made throughout 2024, when he repeatedly floated scrapping the federal income tax and returning to a tariff-based system similar to the late 19th century. In October, CNN reported that Trump told barbers in the Bronx, “There is a way, if what I’m planning comes out,” adding that, “In the 1890s … it had all tariffs. It didn’t have an income tax.”
Days later, Trump told The Joe Rogan during his podcast appearance that he was serious about replacing federal income taxes with tariffs. “Yeah, sure, why not?” he said on The Joe Rogan Experience.
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