Clash Report
@clashreportTrump seeks a tax hike on wealthy people who earn $2.5 million or more. Source: Bloomberg https://t.co/mTckF80NLK
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Trump Urges Johnson to Raise Tax Rate to 39.6% for Those Earning Over $2.5 Million, Close Carried Interest Loophole
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President Donald Trump has privately urged House Speaker Mike Johnson to raise the top tax rate to 39.6% for individuals earning at least $2.5 million annually or couples making $5 million, and to close the carried interest loophole, according to sources familiar with a phone call between the two on Wednesday. This proposal would restore the top marginal rate to its pre-2017 level, currently at 37%.
The push for higher taxes on the wealthy is part of Trump's 'big, beautiful bill,' a multi-trillion-dollar package aimed at extending the 2017 tax cuts while introducing new tax measures. The plan faces potential resistance from GOP lawmakers, who have traditionally opposed tax increases.
The proposed tax hike is intended to help finance Trump's economic priorities, including extending tax cuts for the middle and working classes, eliminating taxes on tips and overtime pay, and protecting Medicaid coverage. The discussions around these tax proposals are ongoing, with no final agreement yet reached.
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zerohedge
@zerohedgeTrump Urges GOP To Raise Taxes On The Wealthy To Fund Economic Agenda: Report https://t.co/KaHS2xOIoa
Michael Standaert
@mstandaertTrump tells Congress to raise taxes on the rich in ‘big, beautiful bill’ https://t.co/CMME0Me5v3
Jake Sherman
@JakeSherman🚨BREAKING NEWS -- PRESIDENT TRUMP privately urged Speaker MIKE JOHNSON on a phone call Wednesday to raise the top tax rate and close the carried interest loophole. The White House has toyed with hiking the top rate for the last few months. But this intervention raises the
MartyParty
@martypartymusic*TRUMP TELLS CONGRESS TO RAISE TAXES ON THE RICH IN ‘BIG, BEAUTIFUL BILL’- @washingtonpost https://t.co/BrJ0lMCvKF
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Story Timeline
•Latest version
Trump Presses Johnson to Lift Top Rate to 39.6% for Incomes Above $2.5m, Then Softens Stance
Trump Proposes 39.6% Tax Rate for Incomes Over $2.5 Million to Fund Middle-Class Cuts and Protect Medicaid
Trump Proposes 39.6% Tax Bracket for Wealthy Amid GOP Resistance
Trump Seeks 39.6% Top Tax Rate on $2.5 Million+ Incomes, Eyes Carried Interest and SALT Changes
Trump Urges Johnson to Raise Tax Rate to 39.6% for Those Earning Over $2.5 Million, Close Carried Interest Loophole
•Original version
Trump Proposes 39.6% Top Tax Rate for Those Earning Over $2.5 Million, Faces GOP Resistance
