President Trump proposed completely cutting out income taxes in his Thanksgiving message on November 27, 2025. During a video call with U.S. military service members from Palm Beach, Florida, he stated: “Over the next couple of years, I think we’ll substantially be cutting and maybe cutting out completely, but we’ll be cutting income tax. Could be almost completely cutting it because the money we’re taking in is going to be so large.” He attributed this to surging tariff revenues from his trade policies, which he said could replace the need for income taxes, echoing pre-election ideas of funding the government like in the late 19th century.