President-elect Donald Trump made a significant announcement on Tuesday, revealing plans for the creation of an External Revenue Service (ERS) upon his return to the White House. The new agency will be tasked with collecting all foreign-sourced revenue, including tariffs and duties.
In a statement released on Truth Social, Trump emphasized the need to move away from relying solely on the Internal Revenue Service (IRS) for funding. He criticized previous trade agreements that, in his view, prioritized international growth at the expense of American taxpayers.
The establishment of the ERS marks a shift in how the government will generate revenue from foreign sources. By centralizing the collection of tariffs and other income streams from abroad, Trump aims to streamline the process and potentially increase funds available for domestic initiatives.
As details continue to emerge about the functions and operations of the ERS, it is clear that this new agency will play a key role in shaping U.S. economic policy moving forward. Stay tuned for updates on this developing story.
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