US EditionTrump revives, then discards, then revives again the idea of taxing the rich in big GOP bill
- President Donald Trump publicly revived, then backed off, and again supported raising the top tax rate on millionaires in a major GOP bill in May 2025.
- Trump's shifting stance follows private and public talks amid Republicans rushing to finalize a large tax breaks and spending cuts bill before Memorial Day.
- He suggested taxing single filers earning above $2.5 million to counter Democratic claims that GOP tax cuts only aid wealthy friends like Elon Musk.
- The current top tax bracket is 37% for incomes over $600,000 and set to expire this year, potentially reverting to 39.6%, while anti-tax activists led by Newt Gingrich press to block hikes.
- Trump’s on-again, off-again approach complicates GOP unity and may trigger political backlash reminiscent of the Bush-era 'Read my lips: No new taxes' controversy.
128 Articles
128 Articles
Associated Press News
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New Strait Times
Arizona Daily SunTrump says he's OK with taxing the rich but warns of political fallout
WASHINGTON: US President Donald Trump said on Friday he was "OK" with raising taxes on the wealthiest Americans, as his fellow Republicans consider scaling back the scope of the ambitious tax-cut package they aim to pass this year. © New Straits Times Press (M) Bhd
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