Overview

• President Donald Trump aims to abolish federal income taxes for individuals earning less than $150,000 annually, according to Commerce Secretary Howard Lutnick.
• The proposal would also eliminate taxes on tips, overtime pay, and Social Security contributions, as part of a broader tax reform strategy.
• The plan, which includes $4.5 trillion in tax cuts, has passed the Republican-led House of Representatives and awaits a Senate vote.
• Critics have raised concerns about the plan's fairness, potential economic impacts, and its constitutionality under equal protection principles.
• Supporters argue the policy could stimulate the economy and provide significant relief for middle-class Americans.