Trump Reported to Reject Tax Hike on Wealthy Americans

Former President Donald Trump has signaled strong opposition to proposals for raising income taxes on the wealthiest Americans, a stance he communicated to former House Speaker Newt Gingrich and reiterated to reporters. Trump warned that increasing taxes on millionaires could be politically damaging, invoking the example of George H.W. Bush's tax hike and subsequent electoral loss. Gingrich interpreted Trump's comments as effectively ending the debate within the GOP about increasing top marginal tax rates, a position echoed by House Speaker Mike Johnson and other leading Republicans. Despite some deficit-focused lawmakers suggesting a tax hike could help fund policy priorities, the idea faces significant resistance from conservative activists and GOP leaders. The discussion comes as parts of the 2017 tax cuts are set to expire, but it now appears unlikely that a new higher tax bracket for millionaires will be included in any forthcoming legislation.