Hi, from CNN. This is Madeline Thompson with five things you need to know for Monday, April 28.

We're going to be cutting taxes, and as possible, we'll do a complete tax cut because I think the

tariffs will be enough to cut all of the income tax. That's President Donald Trump speaking

yesterday before boarding Air Force One.

Eliminating income taxes is an ambitious goal, Trump has mentioned before,

but his plan to replace them with tariffs as a source of revenue might be even more so.

The federal government raises about $3 trillion a year from income taxes,

while the U.S. happens to import around $3 trillion

worth of goods and services annually. Which means tariffs would have to be at least 100% on

all imported goods for the levies to replace income taxes, according to a chief economist

at Apollo Global Management. But to fully replace income taxes, tariffs may need to be set so high that they quadrupled

the price of everything coming into the country from abroad.

Trump did acknowledge yesterday that income tax elimination isn't something that could be achieved overnight.

This past weekend, the U.S. and Iran wrapped up the third round of nuclear talks, with both sides

painting a positive but cautious picture of talks over Iran's nuclear program.

A nuclear deal was previously reached in 2015 between Iran and world powers, formerly known

as the Joint Comprehensive Plan of Action, which allowed Iran to enrich uranium at a level that ensured its nuclear

program would be exclusively peaceful. But the agreement was abandoned by President Trump in

2018 during his first presidential term. Today, Iranian foreign minister Abbas Aragshi took

aim at comments made by Israel's prime minister and reiterated that Iran was not seeking another

comprehensive plan of action. Trump has repeatedly said the deal he plans to reach with Iran

would be, quote, stronger than the 2015 one. Former Biden White House National Security Advisor

...