Secretary Of Treasury Bessent - Tariff Income Could Replace Income Tax Immidately!

James Kaufman, World News Report, today, April 29th, 2025. God bless you and yours, no matter where you are in the world. Please subscribe, give us a thumbs up, ring that bell for critical future updates. Secretary Scott Bessent says tariff income could be used for income tax relief immediately. Treasury Secretary Scott Bessent on Tuesday told reporters. In the White House, that income taxes could be cut immediately with revenue earned from tariffs after President Trump teased the elimination of taxes for Americans to make less than $200,000 per year. Quote, there's a very good chance that we'll be seeing this in the up-and-coming tax bill. End quote. he said, referring to the 2017 tax cuts in the Big Beautiful Bill. Which the House and Senate are currently negotiating. This is what he has to say. The President said on the weekend that we are hoping that maybe tariff revenues could replace income tax. But we also keep hearing about the deals the administration is pursuing. So my question is, what is the White House's ultimate objective here? Do you want to have long-term tariff revenue or deals that might reduce those tariffs? I think it's a combination of both. So we're going to take in long-term tariff revenue. We put a process in place. We have 18 important trading relationships. We will be speaking to all of... Those partners, or at least 17 of them, over the next few weeks, many of them have already come to Washington. What President Trump is referring to is the ability for tariff revenue to give income tax relief. And I think there's a very good chance that we will see this in the upcoming tax bill. The president campaigned on no tax on tips, no tax on Social Security, no tax on overtime, Over time and the restoring interest deductibility for all those. For American-made autos, so a tariff income could be used for tax relief on all of those immediately. Immediately, ladies and gentlemen, that's what Secretary Scott Bessent said at the White House in the press conference today. Now, ladies and gentlemen, I'm 1,000% for tariffs replacing the income tax, which is exactly how the U.S. government used to fund itself. Before the quote-unquote income tax was put in place in the early 1900s. God bless. Please share, subscribe, and always remember, anything's possible in the bizarro world.