"All Tariffs," no Income Tax Proposed

Donald Trump has proposed to his Congressional allies an "all tariff policy" which would replace the income tax, sources have told CNBC. “He talked about how we did our taxes up until World War One. It was all tariffs,” Nebraska Rep. Bacon told Semafor. 

CBP collected $80 billion in Tariff revenue in FY 2023.  Revenues received by the federal government in 2023 totaled $4.4 trillion, of which half was receipts from individual income taxes, according to the Congressional Research Service.

In his first visit to Washington since the January 6, 2021 storming of the U.S. Capitol by his supporters, the presumptive Republican presidential nominee met with GOP lawmakers at the Capitol Hill Club.  In a later event with leading CEOs sponsored by The Business Roundtable, the former President called for lower corporate taxes.