India, March 5 -- US President Donald Trump said that his administration is seeking permanent income tax cuts for Americans hard hit by inflation.

For this, he said that he was calling for "no tax on tips, no tax on overtime, and no tax on social security benefits for our great seniors," in his address to a joint session of Congress on Wednesday, March 5, 2025.

This also comes at a time when prices of various goods in the US are widely set to rise with the tariffs on Canada, Mexico, and China having come into effect on Tuesday, March 4, 2025.

Apart from this, Trump also said that he wanted to make interest payments on car loans tax deductible, but only if the car was made in America.

This comes after a a trade group representing nearl...