Islam Times - Trump Announces New US Tax Agency

Islam Times - US President-elect Donald Trump announced that his administration will establish an ‘External Revenue Service’ to collect tariffs and duties from foreign imports.

Trump campaigned on generating government revenue by levying tariffs on overseas goods, the way the US did before introducing 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 posted on his Truth Social platform on Tuesday.

He further added: “We will begin charging those that make money off of us with Trade, and they will start paying, FINALLY, their fair share.”

Trump presented the ‘ERS’ as the counterpart to the Internal Revenue Service [IRS], the US tax authority originally established during the Civil War in 1862.

“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,” he said.

According to Trump, the “birth date” of the new agency would be January 20, the date he is scheduled to take the oath of office for his second term in the White House. While US presidents can create new agencies with executive orders, it takes an act of Congress to make them permanent and secure their operational funding.