Will Taxes Be Eliminated if Income is under $150,000

The Administration is proposing eliminating taxes on income under $150,000.

Mar 17, 2025

∙ Paid

orange fruit tree — Photo by Max on Unsplash

Commerce Secretary Howard Lutnick was on Fox News last week indicating the administration would like to eliminate income taxes for those taxpayers whose income is $150,000 or less.

This would only happen if the administration is able to balance the budget. Their assumption is that they can eliminate $1 trillion of waste and earn $1 trillion from selling the “Trump Gold Coin” to foreigners to come to the US.

How achievable is this and how would it work?

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