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Trump Floats Tariff Hikes to Offset Some Income Tax Cuts
Posted
June 13, 2024
Views
26,823
Likes
600
Comments
61
Engagement
2.46%
June 13, 2024
26,823
600
61
2.46%
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0:57Now PlayingDonald Trump floated the idea of using tariff hikes as a way to pay for some income tax cuts, a move that would inject uncertainty into global trade and consumer prices as Congress debates a tax code overhaul next year.
Trump, in a meeting with House Republicans in Washington on Thursday, said he is pushing for tariff hikes, as well as an extension of his expiring 2017 tax cuts and a new tax exemption for tipped wages, according to lawmakers in the room.
“He does want to look at lowering the income tax, and that could be offset and paid for by some type of tariffs, particularly on adversarial nations,” Representative Nicole Malliotakis, a New York Republican, said following the meeting.
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