Trump pushes Republicans to have rich pay more taxes
The White House is making a last-ditch push to raise taxes on the wealthiest Americans as part of President Trump's “big beautiful bill,” as Republican lawmakers craft the final details of the tax package.
The proposal, according to three sources, would allow the top marginal income tax rate cut that Trump signed into law in 2017 to expire at the end of the year for the highest-income Americans — meaning that rate would rise from 37 percent to 39.6 percent — while Republicans would extend the 2017 tax cuts for the lower tax brackets.
One of the sources said the president had made the policy request as recently as Wednesday. Punchbowl News reported Thursday that Trump asked Speaker Mike Johnson (R-La.) directly to back the policy. Johnson did not respond to a question from The Hill about the tax rate when he left the Capitol on Thursday.
Republicans had previously said the option of a new millionaires tax was on the table as they crafted the bill, shocking and prompting swift pushback from many conservatives who had advocated for decades to make refusing to raise taxes part of party orthodoxy.
While the top tax bracket for 2024 applied to incomes higher than $609,351 for single filers and $731,201 for joint filers, the White House is pitching a new higher rate that would apply to those with incomes greater than $2.5 million for single filers or........
© The Hill
