Trump Proposes Eliminating Income Tax for Americans Earning Under $150,000

Commerce Secretary Howard Lutnick outlines the plan as aspirational, relying on tariffs and deficit reductions to offset revenue loss.

President Donald Trump aims to eliminate federal income taxes for individuals earning less than $150,000 annually, according to Commerce Secretary Howard Lutnick.
Lutnick described the proposal as a long-term goal contingent on balancing the federal budget and addressing overseas tax fraud.
Critics, including economists and fiscal conservatives, argue the plan is unrealistic and could significantly increase the national debt.
Trump's broader tax strategy includes abolishing taxes on tips, overtime, and Social Security, while implementing tariffs on foreign goods and services.
The proposal has sparked mixed reactions, with supporters praising potential middle-class relief and opponents questioning its feasibility and fairness.