US Commerce Secretary: Trump Aims to Abolish the IRS Completely

Trump Administration Reportedly Planning to Abolish the IRS

In a major policy shift, US Commerce Secretary Howard Lutnick has stated that Donald Trump’s goal is to completely dismantle the Internal Revenue Service (IRS). The announcement has sparked intense debate over the future of taxation in the United States.

What Did Lutnick Say?

During a public address, Lutnick revealed that Trump’s administration is considering a full-scale elimination of the IRS, signaling a radical change in tax collection policies. While no official legislative proposal has been introduced, this statement has fueled speculation about:

What Would Abolishing the IRS Mean?

If implemented, dismantling the IRS would mark one of the biggest financial system overhauls in US history. Potential consequences include:

Market & Political Reactions

While no concrete legislative action has been taken yet, Trump’s anti-tax and deregulation stance suggests that IRS reform may be a key priority in his administration.

With major financial and political implications, this proposal is likely to spark heated debates in Washington and beyond.

Would abolishing the IRS be a game-changer or a financial disaster? Stay tuned as the story develops.