President Donald Trump late Thursday said that the United States may “almost completely” eliminate the income tax due to the rising tariff revenue.

“In the next couple of years, I think we’ll substantially be cutting, or maybe cutting out completely, but we’ll be cutting income tax,” Trump said during an event on Thursday.

“Could be almost completely cutting it because the money we’re taking in is going to be so large,” he added.

The Congressional Budget Office (CBO) in June projected that the tariff increases will reduce the federal deficit by $2.8 trillion over the next decade.

Breitbart News Economics Editor John Carney wrote :

The tariff estimate covers measures implemented between January 6 and May 13, 2025. These include a 30 percent levy on imports from China and Hong Kon

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