#TrumpTaxCuts Trump floats income tax cut to ease tariff impact

BY SARAH FORTINSKY 04/27/25 10:56 PM ET

President Trump speaks to reporters before boarding Marine One on the South Lawn of the White House in Washington on April 25, 2025.

President Trump floated a new income tax cut on Sunday as a way to mitigate the impact of his sweeping tariffs, which polls show Americans increasingly believe will lead to higher prices.

“When Tariffs cut in, many people’s Income Taxes will be substantially reduced, maybe even completely eliminated,” Trump wrote in a post on his Truth Social platform on Sunday.

“Focus will be on people making less than $200,000 a year,” he continued.

Trump defended the strategy behind his steep tariffs in his post, maintaining “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!!!”