The Congressional Budget Office says President Trump's tariffs could raise $2.8 trillion over the next decade — if they stay in place. But Sen. Tim Kaine, D-Va., argues that the cost of raising so much money would fall onto poor families and middle class Americans.
"Basically what the tariff revenue is doing, it's being used to finance a huge tax cut for the wealthiest, together with cuts in everyday programs that people rely on like Medicaid and nutrition assistance," Kaine told Morning Edition .
Since Trump's return to the White House, he has imposed taxes of 10 to 50% on nearly everything the U.S. imports, and those taxes have already raised tens of billions of dollars in revenue.
If the tariffs remain in place, they're expected to reduce the federal deficit by $2.8 trillion by 2