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Trump says he will create an 'External Revenue Service' agency to collect tariff income

In a recent statement, former President Donald Trump announced his intention to establish an "external revenue service" agency if he wins the 2024 presidential election. This new agency would be tasked with collecting tariff income, aiming to reduce the burden on the Internal Revenue Service (IRS) and potentially decrease the size of the IRS workforce. Trump's proposal comes as part of his broader plan to overhaul the U.S. tax system, focusing on increasing tariffs on imports to generate revenue, which he claims would help fund tax cuts and reduce the national deficit. Critics argue that this move could lead to higher costs for consumers and might provoke retaliatory tariffs from other countries, potentially harming U.S. exporters.

Read the Full scrippsnews Article at:
[ https://www.scrippsnews.com/politics/trump-says-he-will-create-an-external-revenue-service-agency-to-collect-tariff-income ]