The Trump Administration is looking into imposing federal taxes on cruise ships operating the US, Commerce Secretary, Howard Lutnick (pictured) said during an interview on Fox News Live.
Mentioning the cruise industry as an example, he explained that Trump wants to “abolish the Internal Revenue Service and let all the outsiders pay.”
“Did you ever see a cruise ship with an American flag on the back? They always have flags like Liberia or Panama. None of them pay taxes, none of them.
“This is going to end under Donald Trump, and those taxes are going to be paid, and Americans’ tax rates are going to come down,” he added.
He explained that the idea was part of the Trump Administration’s goal to balance the country’s budget and cut taxes.
Not surprisingly, major cruise lines’ shares crashed after the interview, which aired late Wednesday of last week.
However, be assured that the cruise companies will not be hit by any moves to tax their operations, as they will just pass on the costs to the consumer, i.e. their guests – Ed.
