U.S. Commerce Secretary Howard Lutnick says the president is looking to eliminate income tax for Americans earning less than $150,000 per year.

In a bold economic move, former U.S. President Donald Trump is reportedly planning a major overhaul of the federal tax system. His proposal includes eliminating income tax for individuals earning up to $150,

President Donald Trump has proposed a plan to abolish federal income taxes for Americans earning less than $150,000 per year, sparking curiosity on what people might take home should the plan be enacted.

More than 90% of Americans age 15 and older earned less than $150,000 in 2022, according to U.S. Census Bureau findings.

That’s what I’m working for.” According to U.S. Census figures, 93% of Americans aged 15 and above earned less than $150,000 in 2022. If Trump’s plan is implemented, it could mean that taxes would be eliminated for most of the country,