"All Tariffs," no Income Tax Proposed

Posted 6/13/24

Donald Trump has proposed an "all tariff policy" which would replace the income tax, sources have told CNBC.

CBP collected $80 billion in Tariff revenue in FY 2023.  Revenues received by the federal government in 2023 totaled $4.4 trillion, of which half was receipts from individual income taxes, according to the Congressional Research Service.

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