President Trump proposed on Sunday a new income tax cut as a way to mitigate the impact of his broad tariffs, which, according to polls, Americans increasingly believe will lead to higher prices. "When tariffs are reduced, the income taxes of many people will be substantially reduced, perhaps even completely eliminated," Trump wrote in a post on his Truth Social platform on Sunday. "The focus will be on people earning less than $200,000 a year," he continued. Trump defended the strategy behind his high tariffs in his post, stating that "huge amounts of jobs are already being created, with new plants and factories under construction or planned. It will be a bonanza for the United States!!! The Internal Revenue Service is underway!!!"
