Trump says he will offset lost revenue from his tax proposal with funds from drilling and tariffs

 Former President Donald Trump said Saturday that he would make up the lost tax revenue from his tax proposals with increased funds from drilling and by imposing tariffs on foreign nations.

Trump has proposed eliminating taxes on tips, ending taxes on overtime pay and cutting income taxes on Social Security benefits.

When asked in an interview with Las Vegas TV station KNTV how he plans to replace decreased revenue from the federal budget, Trump said, “Drill, baby drill.”

“We have more liquid gold under our feet than anybody else,” Trump replied. “And we’re going to be charging countries that have been ripping us off for years with tariffs. And the tariffs will make us — we’ll have money like we’ve never had before.”

Trump defended his tariffs plan when asked whether he believes the levies would cause prices to increase and wipe out any advantage from his tax proposals.

“What it’s going to actually do is take away the profit that these countries are making. … They’re going to still make plenty, but they’re not going to make the kind of money they’ve made over the last 40 years,” Trump said