White House Press Secretary Karoline Leavitt recently outlined President Trump’s bold new tax plan—and it’s packed with major cuts aimed at helping everyday Americans. One of the biggest headlines? Trump wants to eliminate taxes on Social Security benefits, overtime pay, and even tips.
Speaking to the press, Leavitt emphasized that these tax reforms reflect Trump’s continued commitment to middle-class families. “These are President Trump’s priorities,” she said. “There will be no tax on tips—something he promised on the campaign trail. And just as importantly, there will be no taxes on seniors, Social Security, or overtime wages.”
Leavitt also highlighted other key parts of the plan, including changes to the SALT cap (state and local tax deductions), ending special tax breaks for billionaire sports team owners, and closing the carried interest loophole that benefits hedge fund managers. Trump also wants to reward American-made products by giving them tax advantages.
“This will be the biggest tax cut in U.S. history for working and middle-class Americans,” Leavitt declared. “The President is ready to work with Congress to get it done.”
These new proposals build on Trump’s earlier tax cuts from 2017, and they signal his determination to reshape how the government collects revenue—without overburdening working families.
In fact, Trump has even floated the idea of eliminating income taxes altogether. In a previous appearance on Fox & Friends, he explained that America once thrived without an income tax, relying instead on tariffs and trade to fund the government.
“There’s a better way,” Trump said. “Back in the 1890s, our country was booming. We didn’t have an income tax, but we had so much money coming in from tariffs that we didn’t even know how to spend it all.”
He believes a return to that kind of system—if carefully implemented—could free Americans from income taxes while still supporting national growth. “If this plan works the way I envision,” Trump said, “we could be looking at a future where hard-working Americans get to keep more of their paychecks.”