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The Trump administration is preparing to launch the Internal
Revenue Service (IRS), a new agency that will collect tariffs. The
administration hopes this will help eliminate the Internal Revenue Service
(IRS).
At a Cabinet meeting on Monday, Commerce Secretary Howard
Lutnick expressed enthusiasm for April 2, a date President Trump has called
"liberation day" for the United States. Lutnick also indicated that
the administration would launch the Internal Revenue Service (IRS), but it was
unclear whether he meant the agency would begin work on that date.
The administration has claimed that the creation of the new
agency will advance Trump's trade agenda and accelerate the collection of
tariffs. According to Newsweek, the additional money will translate into lower
taxes for Americans and accelerate the process of eliminating the IRS, which is
currently the government's primary revenue-generating agency.