The Trump administration this week stepped up its ambitious effort to replace about $1.6 trillion in lost tariff revenue that was eliminated by the Supreme Court’s decision to strike down a range of the president’s import taxes.

The Trump administration this week stepped up its ambitious effort to replace about $1.6 trillion in lost tariff revenue that was eliminated by the Supreme Court’s decision to strike down a range of the president’s import taxes.

Recovering that lost revenue, which the White House was counting on to help offset the steep, multi-trillion dollar cost of its tax cuts, is possible but will be challenging, experts say.

The administration has to use different legal provisions to impose new duties, and those provisions require longer, complex processes that U.S. companies can use to seek exemptions. It could be months or more before it is clear how much revenue the replacement tariffs will yield.

    • aceshigh@lemmy.worldEnglish
      2·
      23 hours ago

      A tax on other countries, who should be paying for it. It’s a mistake that us citizens are paying for it. /s

  • EvilBit@lemmy.world
    33·
    2 days ago

    If you’re paying for tax cuts with new taxes, that’s called wealth transfer. You’re telling us exactly who you think should have less money and who you think should have more.

    • CharlesDarwin@lemmy.worldEnglish
      4·
      1 day ago

      Remember how the cons would piss and moan about how Obama’s admin should “not pick winners and losers”?

      Do these sister-fuckers not realize that’s what most of politics is about, including things like trade agreements and tax policy? Do they really think Republicans aren’t out to funnel even more money to the already obscenely wealthy and take more money from the lowest tax brackets in the process? They really seem to think that constantly punching down is not picking winners and losers…/facepalm

    • Greyscale@lemmy.sdf.orgEnglish
      6·
      1 day ago

      The US had 4bn worth of losses the other day when 4 THAAD units exploded.

      They’re moving a 5th to within exploding range.

      You could have had free healthcare, but instead they’re just blowing it up, unused.

      edit: And a KC-135. And 3x F16-E. Even the LUCAS drone which is supposed to be a low cost copy of the 7k Shahed, but costs 35k. The United States has a structural cost control problem.