President Trump: “THE EXTERNAL REVENUE SERVICE IS HAPPENING!!!” – Income Taxes to be “Substantially Reduced, Maybe Even Completely Eliminated” for Those Making Less Than $200K/Year
President Trump announced on Sunday morning that a “BONANZA FOR AMERICA” is on the horizon with tariffs and foreign investments, which he hopes will lead to the elimination of income taxes on most Americans.
“Focus will be on people making less than $200,000 a year,” President Trump said, indicating that taxation could be “completely eliminated” for this income bracket.
The Gateway Pundit has reported extensively on President Trump’s plans with the External Revenue Service, which he announced on January 14, 2025. The new agency will “collect our Tariffs, Duties, and all Revenue that come from Foreign sources,” said Trump.
Later, during a January rally in Las Vegas, Nevada, the President hinted again that he would abolish the federal income tax using tariff revenue to replace it.
During a White House press briefing in February, National Economic Council Director Kevin Hassett also told The Gateway Pundit that they estimate tariffs will bring “500 billion and a trillion dollars over 10 years,” leading to tax cuts and even ending taxes for some individuals.
The White House announced on Friday that, in addition to tariff revenues, President Trump has secured $5.2 trillion in private and foreign investments in American manufacturing, data centers, AI, and energy production.
While the haters hate, President Trump delivers. $5.2 trillion in investments, locked in.
That’s the Trump Effect. pic.twitter.com/V2fZ6da98S
— The White House (@WhiteHouse) April 25, 2025
The President cheered the investments in American manufacturing and the work of his External Revenue Service in a Truth Social post on Sunday, announcing his hope to eliminate income taxes:
When Tariffs cut in, many people’s Income Taxes will be substantially reduced, maybe even completely eliminated. Focus will be on people making less than $200,000 a year. Also, massive numbers of jobs are already being created, with new plants and factories currently being built or planned. It will be a BONANZA FOR AMERICA!!! THE EXTERNAL REVENUE SERVICE IS HAPPENING!!!
The Gateway Pundit will continue to provide updates on the Trump Tariff and the American manufacturing boom.
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