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President Trump reiterated a revolutionary idea that he touched on earlier this year, looking ahead to a wealthy future for the American people that could eliminate the most egregious tax burden of all: income tax.
“Next year’s projected to be the largest tax refund season ever, we’re going to be giving back refunds out of the tariffs because we’ve taken in, literally, trillions of dollars, and we’re going to be giving a nice dividend to the people in addition to reducing debt,” the president said on Tuesday at the White House.
“I believe that at some point in the not-too-distant future you won’t even have income tax to pay, because the money we’re taking in is so great, so enormous, that you’re not going to have income tax to pay,” he continued. “Whether you get rid of it or just keep it around for fun or have it really low – much lower than it is now – but you won’t be paying income tax.”
As far as next year’s projected tax refunds, Americans could see more money back than usual, thanks to the “One Big Beautiful Bill” that was signed in July. As reported by RSBN, this could mean an extra $1,000 refund for tax filers in 2026.
The president has also alluded to cutting a dividend check for Americans next year in the vein of Covid-era stimulus checks, stemming from the incoming tariff revenue streaming into the United States under his trade policies.
Americans may expect these checks by mid-2026, according to the president. Per RSBN, tariff revenue has skyrocketed to a massive $195 billion, based on a September 2025 report. Tens of billions of dollars have been generated for the U.S. every month since the president implemented his tariff policies across the globe.
President Trump initially proposed the idea of nixing the income tax in January, just a handful of days after taking office.
“Instead of taxing our citizens to enrich foreign nations, we should be tariffing and taxing foreign nations to enrich OUR citizens,” he said.