#TrumpTaxCuts
Trump plans new tax cuts in an attempt to alleviate the burden of tariffs
U.S. President Donald Trump said on Sunday that the broad tariffs he imposed could help him lower income taxes for people earning less than $200,000 annually, amid rising public concern about his economic agenda.
Trump had previously argued that tariff revenues could replace income taxes, although economists have questioned these claims, according to Bloomberg.
On Sunday, Trump said on his social network “Truth Social”: “When the tariffs go into effect, income taxes for many people will be significantly reduced, and may even be eliminated altogether. The focus will be on people earning less than $200,000 a year.”
In just a few weeks, the tariffs imposed by Trump have disrupted the global economy, raised concerns about rising prices for Americans, and sparked warnings that his policies could lead to an economic recession.
A poll conducted by CBS News and published on Sunday showed that 69% of Americans believe the Trump administration has not focused enough on lowering prices. Additionally, Trump's approval rating for handling the economy fell to 42% in the poll, down from 51% in early March.
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