Commerce Secretary Howard Lutnick shared insight to Trump’s plans in a new interview
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 statements made by Trump regarding tax policies, including his recent remarks during a Congressional address, where he promised to eliminate taxes on overtime pay, tips, and Social Security for the nation’s “great seniors.”
The president has shared his vision for these changes on multiple occasions. Last June, before assuming office, he told his 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 eliminate taxes on tips. We’re going to do that right away, first thing in office.” With Trump now back in the Oval Office, it’s up to Lutnick to turn these promises into reality. In an interview with CBS, the Commerce Secretary offered clarity on Trump’s intentions, revealing that the president’s goal is to eliminate taxes for Americans earning less than $150,000 annually.
Lutnick also touched on Trump’s previous tax proposals, saying, “How about no tax on tips? How about no tax on overtime? How about no Social Security? These are the kinds of ideas that will transform America. I know what his (Donald Trump’s) goal is… no tax for anyone making less than $150,000 a year. That’s what I’m working toward.”
In response to this statement, CBS News Chief White House Correspondent Nancy Cordes questioned whether this meant Trump had a “master plan” behind his tariffs on countries like Mexico and Canada, which, despite appearing “chaotic and unpredictable” to the public, may have a larger strategic vision.
Lutnick fired back, insisting that the tariffs were “not chaotic.”
Addressing concerns about the potential deficit and debt arising from the proposed tax cuts, Lutnick argued that it wouldn’t be Americans footing the bill. “Listen to Donald Trump. He said, ‘I created the external revenue service to have other people pay, not Americans,'” Lutnick explained. “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 remarks come on the heels of the House of Representatives’ approval of Trump’s plan for $4.5 trillion in tax cuts in February. The proposal is now set to face a vote in the Senate.
