US Commerce Secretary Howard Lutnick, who is working on Donald Trump's ambition to 'eliminate tax' for certain Americans, has shared more insight into the president's plan in a new interview.
Lutnick spoke out following a series of declarations about tax that Trump has made over time, including claims during his recent Congress address that he would end taxes on overtime pay, tips and Social Security for the country's 'great seniors'.
The president has offered further insight to his plans on various occasions. Last June, before he was voted in as president, he told supporters: "To those hotel workers and people who get tips, you are going to be very happy, because when I get to office we are going to not charge taxes on tips, people making tips. We’re going to do that right away, first thing in office."
With Trump now back in the Oval Office, it's Lutnick's job to put Trump's words into action.
In an interview with CBS, the Commerce Secretary clarified that Trump's 'goal' is to have 'no tax' for Americans earning below $150,000 annually.
Advert
Lutnick also made reference to Trump's previous claims about tax, saying: "How about no tax on tips? how about no tax on overtime? How about no social security? How about all those things — these are the kind of thoughts that will change America. I know what his (Donald Trump's) goal is... no tax, for anybody who makes less than $150,000 a year. That's his goal. That's what I'm working for.”
In response to this declaration, CBS News chief White House correspondent Nancy Cordes clarified whether this mean Trump had a 'master plan' with the tariffs he has been implementing against countries such as Mexico and Canada, despite it looking 'chaotic and unpredictable' from the outside.
Lutnick responded to argue the tariffs were 'not chaotic'.
Advert
When it came to concerns about deficit and debt that may stem from increased tax cuts, Lutnick argued that 'other people', not Americans, could cover these costs.
"Listen to Donald Trump. He said 'I created the external revenue service to have other people pay, not Americans'," Lutnick said. "It's time for Americans to realize that everyone else is living off of us. Let's let them pay some of their fair share."
Lutnick's comments come after the House of Representatives approved Trump’s plan for $4.5 trillion in tax cuts in February. The bill now faces a vote in the Senate.
Topics: Donald Trump, Business, Money, US News
Emily Brown