Politics and Government Politics and Government
Tue, January 14, 2025
[ Tue, Jan 14th ] - MSN
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Donald Trump Wants an 'External Revenue Service': What to Know

Donald Trump Wants an 'External Revenue Service': What to Know


Published on 2025-01-14 15:41:25 - MSN
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  • Donald Trump said he would create an "External Revenue Service" aimed at collecting tariffs and foreign revenue on January 20.

Donald Trump has proposed the creation of an "External Revenue Service" (ERS) as part of his 2024 presidential campaign, aiming to replace the Internal Revenue Service (IRS). This new agency would focus on generating revenue for the U.S. government through means other than traditional taxation, such as increasing tariffs on imports, particularly from China, and potentially selling federal assets. Trump's plan includes reducing the size and scope of the IRS, which he claims would simplify tax collection and reduce government overreach. Critics argue that this could lead to a significant decrease in federal revenue, potentially destabilizing the economy, and that the logistics of establishing such an agency would be complex and costly. The proposal reflects Trump's ongoing critique of the current tax system and his preference for alternative revenue sources.

Read the Full MSN Article at:
[ https://www.msn.com/en-us/politics/government/donald-trump-wants-an-external-revenue-service-what-to-know/ar-BB1rrXHC ]
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