Trump's Tax Waiver Proposal Sparks Debate
U.S. President Donald Trump aims to waive taxes for those earning under $150,000, contingent on balancing the budget, as announced by Commerce Secretary Howard Lutnick. Described as 'aspirational,' this proposal has stirred discussions on its feasibility and potential economic impact.
U.S. President Donald Trump has set his sights on a major tax policy change: the elimination of taxes for Americans earning under $150,000 annually. This initiative, however, hinges on achieving a balanced federal budget first.
Commerce Secretary Howard Lutnick shared details of this ambitious plan during an appearance on Fox News' 'The Story with Martha MacCallum,' categorizing the proposal as 'aspirational.'
While the idea is generating buzz, questions regarding its practicality and potential economic repercussions have sparked serious debate among policymakers and economists alike.
(With inputs from agencies.)
Advertisement
ALSO READ
U.S. Commerce Secretary Hints at Tariff Relief Discussions
Commerce Secretary Lutnick says most tariffs on Canada, Mexico likely to be delayed a month
Commerce Secretary Lutnick says most tariffs on Canada, Mexico likely to be delayed a month
After Trump's tariffs rattle economy, commerce secretary says US will likely meet Canada and Mexico 'in the middle', reports AP.
US Commerce Secretary Advocates for Open Indian Agricultural Trade as Part of Wider Trade Agreement
Google News