By Tristan Smith
masslive.com
(TNS)
Americans who make less than $150,000 a year may be exempt from paying federal income taxes, if the president gets his way.
In a Tuesday night CBS interview with U.S. Commerce Secretary Howard Lutnick, the federal official stated President Donald Trump hopes to eliminate federal income taxes for people who earn less than $150,000 a year.
“I know what his [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,” Lutnick said in the interview.
According to 2022 U.S. Census Bureau findings, 93% of Americans age 15 and older earned less than $150,000. If Trump’s plan is implemented, taxes will be eliminated for most of the country.
The U.S. commerce secretary added that Trump also wishes to remove taxes on tips and overtime as well as reduce individual and corporate taxes.
Lutnick suggested the country could offset the tax cuts by ending what he sees as “tax scams” perpetrated through overseas trade partners.
Lutnick also believes marketing rebranded green cards as “gold cards” for $400,000 each would significantly lessen Americans’ tax burdens, he told CBS.
Photo caption: President Donald Trump (Pictorial Press Ltd./Alamy Stock Photo)
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©2025 Advance Local Media LLC. Visit masslive.com. Distributed by Tribune Content Agency LLC.
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