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Republicans Consider 40% Top Tax Bracket as Trump Tax Cuts Set to Expire, Pence Opposes Hikes

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Updated Apr 19, 2025, 01:17 PM

Republican lawmakers in Congress are considering an increase in taxes on the wealthy as part of President Donald Trump's legislative agenda, known as the "big beautiful bill." One proposal under discussion includes establishing a roughly 40 percent top tax bracket on income exceeding $1 million. This consideration marks a departure from traditional GOP opposition to tax hikes on high earners. The debate emerges amid the impending expiration of the 2017 Tax Cuts and Jobs Act at the end of the year, which Republicans are seeking to extend to avoid across-the-board tax increases affecting American families, farmers, workers, and small businesses. Some Republicans emphasize the importance of protecting these tax cuts permanently to prevent economic hardship, citing an average tax increase of $1,500 per family if the cuts expire. However, there is internal party division, with figures like former Vice President Mike Pence urging Republicans to resist tax increases on the rich. The discussion reflects shifts in the GOP's electoral coalition and budgetary priorities, as well as broader debates about tax policy and economic equity.

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Sources

foxnews.com(4)washingtonexaminer.com(3)justthenews.com(2)bmj.com

Chad Pergram

@ChadPergram

Republicans push for tax cut bill and the risks of tax increases: https://t.co/V9nNNIQNFA

Washington Examiner

@dcexaminer

Extending the Tax Cuts and Jobs Act is vital https://t.co/bqvDWr8iWT

The BMJ

@bmj_latest

Could taxing wealth be a viable approach to promote equity across the population? @ProfKEPickett and David Taylor-Robinson look at the public health wins such a tax could achieve, and say perhaps we can no longer afford not to tax wealth for health https://t.co/pIprOllHgr