The top Democrat on the Senate Finance Committee said Tuesday that President-elect Donald Trump’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.
“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.”
