A newly elected Republican senator has introduced legislation to establish an 'External Revenue Service' that would collect tariffs and duties from foreign countries, reallocating funds from the Internal Revenue Service. The senator argues that this would help to 'enrich our citizens' by bringing in revenue from abroad and correcting 'decades of bad trade deals'.
“Instead of taxing our citizens to enrich other countries, we will tariff and tax foreign countries to enrich our citizens,” Trump said in the inaugural address he delivered after he was sworn in on Monday. “For this purpose, we are establishing the External Revenue Service to collect all tariffs, duties, and revenues. It will be massive amounts of money pouring into our Treasury, coming from foreign sources.
The legislation Moreno, a newly-elected Westlake Republican, introduced would take funds that that the Inflation Reduction Act adopted during former President Joe Biden’s administration provided to boost the Internal Revenue Service, and reallocate them to the new External Revenue Service.
His legislation has been referred to the Senate Finance Committee for consideration. It does not yet have a counterpart in the U.S. House of Representatives, which must also pass the legislation before it can become law.Will having two brand-new U.S. Senators hurt Ohio’s clout in Congress? Sabrina Eaton writes about the federal government and politics in Washington, D.C., for cleveland.com and The Plain Dealer.
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