'Bonanza For America!': Donald Trump Says New Tariffs Will Lead To Major Income Tax Cuts & Create New Jobs

Washington D.C. April 27, 2025: U.S. President Donald Trump made a major announcement on his social media platform Truth Social today. He said that once new tariffs are applied, many Americans will see big reductions in their income taxes and for some the taxes could even be eliminated entirely. President Donald Trump has announced that new tariffs could soon bring major relief to millions of Americans by lowering their income taxes.

In a post shared on Saturday morning on his platform, Truth Social, Trump said that the tariffs would help reduce and for some, even eliminate income taxes. He mentioned that the primary focus would be on Americans earning under $200,000 per year.

When Tariffs cut in, many people’s Income Taxes will be substantially reduced, maybe even completely eliminated. Focus will be on people making less than $200,000 a year. Also, massive numbers of jobs are already being created, with new plants and factories currently being built…

— Donald J. Trump Posts From His Truth Social (@TrumpDailyPosts) April 27, 2025

“When Tariffs cut in, many people’s Income Taxes will be substantially reduced, maybe even completely eliminated. Focus will be on people making less than $200,000 a year,” Trump wrote.

He further said, "Also, massive numbers of jobs are already being created, with new plants and factories currently being built or planned. It will be a BONANZA FOR AMERICA!!! THE EXTERNAL REVENUE SERVICE IS HAPPENING!!!"

Trump also highlighted strong job growth across the country. He said that a large number of jobs are already being created as companies are actively building or planning new factories and plants.

Calling it a “BONANZA FOR AMERICA," Trump expressed confidence that the combination of tariffs and tax relief would boost the U.S. economy and benefit the working-class citizens.

While the President's announcement has excited many of his supporters, it will be exciting to see on how these changes would be implemented and funded.