Lutnick Says Trump’s Goal Is to Abolish IRS, Let Outsiders Pay

Feb. 20, 2025, 1:28 AM UTC

President Trump’s goal is to abolish the IRS and instead raise revenue by charging other countries, Howard Lutnick tells Fox News.

  • American taxes are going to go down and the US is going to rely on “outsiders” and the External Revenue Service to balance the budget, Lutnick says
  • Lutnick speaks a day after Senate confirmed him as Trump’s Commerce secretary

To contact the reporter on this story:
Kasia Klimasinska in Washington at kklimasinska@bloomberg.net

To contact the editors responsible for this story:
Divya Balji at dbalji1@bloomberg.net

Chelsea Mes

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