Commerce Secretary Howard Lutnick on Friday said that he has received confirmation from the president that the U.S. will eliminate income taxes on households making less than $150K a year, if he successfully balances the budget.

President Donald Trump previously teased eliminating the federal income tax in January, claiming that if his plans with tariffs work out then he would eliminate the federal tax.

Lutnick told the “All In” podcast that he was recently in the car with the president when the idea was floated again.