Trump says he is considering using tariff revenue to issue tax refund checks or repay national debt
Internet reports that Trump said he is considering using part of the revenue from his government's tariffs on trading partners to issue tax refund checks to the American people. "We are really thinking about this issue. We have a lot of money coming in now, and we're thinking about issuing a little tax refund,"Trump told reporters at the White House on Friday as he left for Scotland." It might be very good to give a little tax refund to people below a certain income level." He also said it was possible to use this income to repay U.S. Treasuries."The biggest thing we want to do is reduce debt, but we are also considering tax refunds." So far this fiscal year, U.S. revenue from tariffs has exceeded US$100 billion for the first time. According to the monthly budget report released by the U.S. Department of the Treasury, the United States received US$27 billion in revenue from customs tariffs in June, bringing tariff inflows so far this fiscal year to US$113 billion.
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