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News in English (USA) / 10.05.2025 / 23:00

Trump Proposes Tax Hike on the Wealthy Amid GOP Resistance

Former President Donald Trump has reignited discussions around raising taxes on wealthy Americans, proposing a new top tax rate of 39.6%. While he acknowledges that taxing the rich could be politically beneficial, Trump has also warned of potential backlash from Republican lawmakers. The proposal, seen as part of a larger tax and spending package, has quickly faced resistance within the GOP, with several members urging caution regarding the implications of a millionaire tax hike. Despite the pushback, Trump continues to advocate for higher taxes on individuals earning $2.5 million or more, suggesting that it could aid in financing his ambitious agenda. This development has stirred a debate within Republican ranks, as some lawmakers question the viability of such a tax increase amid their traditional stance against higher taxes.
NBC News, CNN, Fox News, Reuters, CNBC, Axios, The New York Times, Politico, The Washington Post, The Hill