Trump Floats 39.6% Top Tax Rate on Incomes Above $2.5 Million

President Donald Trump privately pressed House Speaker Mike Johnson in a Wednesday phone call to raise the top marginal income-tax rate and eliminate the carried-interest loophole, according to multiple media reports. The proposal would restore the top rate to 39.6% from 37% for individuals earning more than $2.5 million a year. An independent tax policy estimate puts the potential revenue gain, including the carried-interest change, at roughly $67.3 billion. Trump has portrayed the higher levy as a way to finance middle- and lower-income tax relief and to protect Medicaid within his sweeping economic agenda, which he calls the “big, beautiful bill.” The plan represents an unusual break from Republican orthodoxy and has already met resistance from party lawmakers wary of any tax increase. The president’s commitment to the idea remains fluid. In a social-media post on Thursday, he said Republicans “probably should not” raise taxes on the wealthy but added he would “graciously accept” a modest increase if it advances his agenda. White House economic advisers later stressed that the change is not a top priority, underscoring the uncertainty surrounding the provision as House leaders race to finalize the legislation.