Yellen says Trump's plan for new revenue agency won't save money for taxpayers
ReutersJan 16, 2025 12:17 AM
NEW YORK, Jan 15 (Reuters) - U.S. Treasury Secretary Janet Yellen said on Wednesday U.S. President-elect Donald Trump's plan to set up a new government agency to collect tariffs would duplicate an existing agency and was unlikely to save money.
Yellen, taping an appearance on "The Late Show with Stephen Colbert," dismissed Trump's plan for an "External Revenue Service," first announced on Tuesday on his social media platform Truth Social.
"If they're looking to save money for American taxpayers, setting up a duplicative agency doesn't seem like a good first step," she said.
(Reporting by Andrea Shala; Editing by Sandra Malerl)
((andrea.shalal@tr.com; +1 202-815-7432;))
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