As millions of Americans await Donald Trump’s promise to deliver the much-anticipated $2000 tariff rebate checks, the administration is making some eye-popping proposals at the same time.
This includes suggestions to entirely replace the federal income tax with the latest tariff revenue.
{img}On Tuesday, Trump shared more updates on his tariff revenue in a cabinet meeting where he doubled down on his commitments to return tariff funds to the US nation.
The president then went on to note that the country has already collected trillions from taxes. ‘Next year is projected to be the biggest tax refund season to date, and we are going to be giving back refunds out of those taxes,’ the President stated.
{img}He also shared how they will be giving out a great dividend from those tariffs to people to help lower their debts. ‘As you all know, we inherited a lot of debt, but it’s peanuts compared to the type of figures we’re talking about,’ he mentioned. Then he spoke about how very soon, without any date being mentioned, Americans would no longer be required to pay any kind of income tax. This is because, as per Trump, the money they’re taking in is so great.