Washington: US President Donald Trump is planning to scrap the tax on people earning less than $150,000 (over Rs 1.3 crore) per year. Commerce secretary Howard Lutnick, during an interview with CBS, said he's working to turn Trump's goal into a reality.
“How about no tax on tips? How about no tax on overtime? How about no social security? How about all those things - These are the kind of thoughts that will change America,” Lutnick said.
“I know what [Trump's] goal is - No tax for anybody who makes less than $150,000 a year. That is his goal. That is what I am working for,” he added.
Defending Trump's economic policies, which include a tariff war with Canada, Mexico and Canada, Lutnick added that they are “worth it” even if they lead to a recession.
“These policies are the most important thing America has ever had…The only reason there could possibly be a recession is because of the Biden nonsense that we had to live with. These policies produce revenues. They produce growth. They produce factories being built here,” he said.
