The top Democrat on the Senate Finance Committee said yesterday that El Cheato’s proposed creation of an “External Revenue Service” to collect tariff proceeds can’t conceal his plans for a massive tax giveaway to the wealthy and large corporations. Via Common Dreams:
“No amount of silly rebranding will hide the fact that Trump is planning a multitrillion-dollar tax hike on American families and small businesses to pay for another round of tax handouts to the rich,” Sen. Ron Wyden (D-Ore.) said in a brief statement after Trump announced his proposal in a social media post.
The president-elect wrote that on the first day of his new term, he intends to create “the EXTERNAL REVENUE SERVICE to collect our Tariffs, Duties, and all Revenue that come from Foreign sources.”
“We will begin charging those that make money off of us with Trade, and they will start paying, FINALLY, their fair share,” Trump added. “January 20, 2025, will be the birth date of the External Revenue Service.”
Only Congress can establish new executive branch agencies, so it’s unclear how Trump’s proposed External Revenue Service would be established. Currently, U.S. Customs and Border Protection collects tariff revenue.
Outside advisers to Trump anonymously told The Washington Post that the president-elect’s plan “could involve renaming an existing office within the Treasury Department.”
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