Trump administration Commerce Secretary Howard Lutnick revealed Wednesday the president plans on getting rid of all taxes for U.S. citizens who make less than a $150,000 yearly salary.
“I know what his goal is — no tax for anybody making under $150,000 a year. That’s what I’m working for,” Lutnick told CBS News Chief White House Correspondent Nancy Cordes.
🚨BREAKING: Commerce Secretary Howard Lutnick says President Trump wants no taxes for people who make less than $150,000 a year.
— Benny Johnson (@bennyjohnson) March 13, 2025
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The move would massively help the majority of taxpayers since, according to the 2022 Census, around 93 percent of working Americans earned under $150,000.
The administration is also looking at eliminating taxes on tips and overtime pay, which Lutnick said “will change America.”
Most citizens would embrace a huge increase in the amount of money they take home at the end of a hard day’s work, and the move would likely make millions of apolitical Americans fans of the MAGA movement.
To assist with the decrease in federal revenue that would come along with the tax cuts, the administration is eliminating government waste and gutting the federal workforce while also bringing in excess money via tariffs on trade partners who have been taking advantage of the U.S. for decades.
See the full interview below:
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