Tariff Revenue Hits Record $31 Billion in October — As Trump Floats Abolishing Income Tax Altogther!
President Donald Trump’s tariff policy is bringing it record revenues to the U.S. Treasury. According to the department’s October monthly statement, published on Friday, net customs duties totaled $31.4 billion, surpassing all previous totals. Gross customs receipts totaled $33.1 billion, offset by refunds of $1.7 billion. Meanwhile, it is estimated that the U.S. has collected …