Trump aims to abolish IRS, US commerce secretary says - Breaking The News
Download our appPlay StoreApp Store

Trump aims to abolish IRS, US commerce secretary says

EPA-EFE/FRANCIS CHUNG / POOL

United States Secretary of Commerce Howard Lutnick said during an appearance on Fox News that President Donald Trump's goal is to "abolish" the Internal Revenue Service (IRS) and shift the burden onto "outsiders" as a means of gathering revenue.

Lutnick's statement comes as the Trump administration, in its push to downsize the federal workforce, is expected to lay off thousands of IRS employees, with one report suggesting that some 6,000 of the agency's "relatively recent hires" could be fired as soon as Thursday.

"Well think about it, Trump announced the External Revenue Service and his goal is very simple, to abolish the IRS and let all the outsiders pay. I mean this is someone who is focused on America," Lutnick said, one day after being confirmed by the Senate.

Related News
Trump: Houthis have been 'decimated'
United States President Donald Trump said on Monday that the "Iran-backed Houthi Terrorists" have been "decimated" over the past two weeks amid "relentless" attacks."Many of their Fighters and Leaders are no longer with us. We hit them every day and night — Harder and harder," Trump wrote in a post on Truth Social, insisting that the militant group's capabilities are being destroyed "rapidly."Washington's strikes on Houthis will continue until they are no...
Ukraine to reportedly submit US deal changes by end of week
Ukraine is modifying a draft deal with the United States regarding preferential access to its mineral resources, a senior Ukrainian official told AFP on Monday. The official, speaking anonymously, said Ukraine aims to submit its revised proposals by the end of the week.Discussions with US officials took place online Friday, with Ukraine's team expected to brief President Volodymyr Zelensky "today or tomorrow." "Then we will prepare our position and send it to"...
China, Japan, South Korea said to jointly respond to US tariffs
China, Japan, and South Korea agreed Monday to formulate a joint response to United States President Donald Trump's incoming tariffs, according to a social media account linked with the Chinese state broadcaster CCTV.It was reported that the three countries reached an agreement to establish cooperation during a meeting of the trade and economy ministers held on Sunday in Seoul. Additionally, Japan and South Korea expressed interest in acquiring...
Finland's Stubb: Trump running out of patience with Putin
Finland's President Alexander Stubb said on Monday that his American counterpart Donald Trump is the only person who can secure a ceasefire in Ukraine, stressing that the US leader is "running out of patience with [Russian President Vladimir] Putin."In an interview with Sky News following his visit to Trump's Mar-a-Lago residence, Stubb insisted that a deadline for a ceasefire in Ukraine should be set, adding that April 20 would be a convenient date for such a...

Please observe our Terms of Use. The price information is time delayed to varying extents, but as a rule by 15 minutes or more, according to the regulations of the selected stock exchange and/or licensors and the type of securities.

© 2025 TeleTrader Software GmbH. All rights reserved

This website uses cookies to ensure you get the best experience. Our Terms of Use and Data Protection Policy explain the data we collect, why we collect them, and how we may share them.