#TrumpTaxCuts
Trump proposes a new tax cut to alleviate the impact of tariffs on Americans
The American president: the focus will be on individuals earning less than $200,000 annually
President Donald Trump stated on Sunday that the wide-ranging tariffs he imposed may allow him to reduce income taxes for individuals earning less than $200,000 annually, amid growing public concern about his economic agenda.
Earlier, Trump mentioned that tariff revenues could replace income taxes, although economists have questioned those claims.
Trump said on Sunday via his page on "Truth Social": "When the tariffs start to take effect, income taxes for many people will be significantly reduced, and possibly eliminated altogether. The focus will be on individuals earning less than $200,000 annually."
In just a few weeks, Trump's tariffs have caused disruptions in the global economy, raised concerns about rising prices for Americans, and issued warnings that his policies could lead to a recession.
Results from a survey conducted by CBS News published on Sunday revealed that 69% of Americans believe that the Trump administration is not focusing enough on reducing prices. The survey also showed a decline in the approval rating of Trump's economic performance to 42%, down from 51% in early March.
