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Trump Floats Tariff Hikes to Offset Some Income Tax Cuts
By
Janet Levaux
News June 13, 2024 at 03:07 PM
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What You Need To Know
- To extend tax cuts expiring in 2026, the candidate is considering import levies and also reductions in the state and local tax deduction.
- Increasing tariffs to pay for even a modest tax cut would require a massive hike in import levies.
- That would mean a big increase in consumer prices.
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