Trump proposes tax increase for the wealthiest
The president said the tax increase was one he would accept "to help low- and middle-income earners."
Donald Trump
Donald Trump has proposed raising taxes on the wealthiest Americans with the idea of lowering taxes for the working middle and lower classes.
According to Financial Times, Trump is said to have proposed introducing a tax of almost 40% for people with incomes above $2.5 million annually, as he began talks with congressional Republicans on the details of the new tax package he hopes to pass this year.
Currently, the highest rate is 37% for those earning more than $626,350.
In a Truth Social post, Trump told Republican lawmakers on Friday that he was "okay" with raising taxes on the wealthiest.
The president stated : "in any case, the Republicans probably shouldn't do it, but I'm fine with them doing it!!!"
He said the tax increase was one that he "and everyone else would graciously accept to help low and middle income earners."
According to Fox News Digital, on Wednesday Trump quietly pressed House of Representatives Speaker Mike Johnson on the idea, according to two people privy to the discussion.
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