Trump reveals establishment of new US tax agency
US President-elect Donald Trump plans to establish an 'External Revenue Service' to manage the collection of tariffs, positioning it as a competitor to domestic taxation. Read Full Article at RT.com.
TroibNews 
The president-elect is proposing the creation of an ‘External Revenue Service’ to manage the collection of tariffs and duties on foreign imports.
Donald Trump, who ran on a platform of increasing government revenue through tariffs on foreign goods, highlighted that this approach resembles what the US did prior to the introduction of the income tax in 1913.
“I am today announcing that I will create the EXTERNAL REVENUE SERVICE to collect our Tariffs, Duties, and all Revenue that come from Foreign sources,” Trump stated in a post on his Truth Social platform on Tuesday. He added, “We will begin charging those that make money off of us with Trade, and they will start paying, FINALLY, their fair share.”
The proposed ‘ERS’ would serve as a counterpart to the Internal Revenue Service, which was established during the Civil War in 1862. Trump criticized existing trade agreements, saying, “Through soft and pathetically weak Trade agreements, the American Economy has delivered growth and prosperity to the World, while taxing ourselves. It is time for that to change.”
Trump suggested that the agency could be launched on January 20, coinciding with his scheduled oath of office for a second term. While presidents can create new agencies via executive orders, establishing them permanently requires congressional action and funding approval.
Currently, the responsibility for collecting tariffs and customs revenue lies with US Customs and Border Protection, a division of the Department of Homeland Security.
Earlier, Trump advisor Steven Bannon advocated for a shift towards funding the US government through tariffs rather than taxation. “Tariffs paid for everything up until the early 20th century,” Bannon stated at a conference held by PMG in Washington. He emphasized the need to reconsider how revenue can be generated, adding, “America’s behind the golden door, OK? And this market is the most robust, lucrative market in the world, and we shouldn’t just let people have access, we shouldn’t let foreigners have access to this market and to the American people and American citizens for free.”
Bannon noted that the proposed tariff agency would operate under the Treasury and would aim to “take the burden off” the IRS.
James del Carmen for TROIB News
Donald Trump, who ran on a platform of increasing government revenue through tariffs on foreign goods, highlighted that this approach resembles what the US did prior to the introduction of the income tax in 1913.
“I am today announcing that I will create the EXTERNAL REVENUE SERVICE to collect our Tariffs, Duties, and all Revenue that come from Foreign sources,” Trump stated in a post on his Truth Social platform on Tuesday. He added, “We will begin charging those that make money off of us with Trade, and they will start paying, FINALLY, their fair share.”
The proposed ‘ERS’ would serve as a counterpart to the Internal Revenue Service, which was established during the Civil War in 1862. Trump criticized existing trade agreements, saying, “Through soft and pathetically weak Trade agreements, the American Economy has delivered growth and prosperity to the World, while taxing ourselves. It is time for that to change.”
Trump suggested that the agency could be launched on January 20, coinciding with his scheduled oath of office for a second term. While presidents can create new agencies via executive orders, establishing them permanently requires congressional action and funding approval.
Currently, the responsibility for collecting tariffs and customs revenue lies with US Customs and Border Protection, a division of the Department of Homeland Security.
Earlier, Trump advisor Steven Bannon advocated for a shift towards funding the US government through tariffs rather than taxation. “Tariffs paid for everything up until the early 20th century,” Bannon stated at a conference held by PMG in Washington. He emphasized the need to reconsider how revenue can be generated, adding, “America’s behind the golden door, OK? And this market is the most robust, lucrative market in the world, and we shouldn’t just let people have access, we shouldn’t let foreigners have access to this market and to the American people and American citizens for free.”
Bannon noted that the proposed tariff agency would operate under the Treasury and would aim to “take the burden off” the IRS.
James del Carmen for TROIB News
