President Donald Trump renewed his push to overhaul America’s financial system on Thursday by proposing major income tax reductions, even suggesting taxes for many Americans could eventually be “almost completely” eliminated. He argued that his sweeping tariff regime, now applied to most US imports at rates between 10 and 50 percent, will generate massive revenue to offset tax cuts and reduce national debt. Trump claims tariffs can restore economic strength, but offers no specifics or timeline for implementing tax changes. The plan faces legal challenges as the Supreme Court reviews the tariff structure, while critics warn of economic uncertainty and inconsistent fiscal signals.
