Trump plans tax elimination for incomes under $150,000

The Trump administration plans to eliminate taxes for Americans earning less than $150,000 annually, according to Commerce Secretary Howard Lutnick. This proposal aims to reduce personal and corporate taxes significantly. The plan, approved in February, is now awaiting further legislative action. It also includes a proposal related to U.S. visas and seeks to address revenue loss from tax cuts. Lutnick supports tariffs to boost domestic steel and aluminum production, citing national security. However, skepticism remains among business leaders regarding the effectiveness of tariffs and their impact on the economy.