Trump Urges Tax Increases on Wealthy Amid GOP Bill Disputes

President Donald Trump has taken an unexpected stance by privately urging House Speaker Mike Johnson and Republican lawmakers to consider increasing taxes on the wealthiest Americans, specifically targeting those earning over $2.5 million and closing Wall Street loopholes like the carried interest exemption. While Trump acknowledges the political risks—warning that the 'Radical Left Democrat Lunatics' could exploit the move—he is willing to accept a 'tiny' tax increase on the rich to help fund significant middle- and working-class tax cuts, including the elimination of taxes on tips, Social Security benefits, and overtime pay. This push comes amid intense intra-party debates as Republicans work to draft and pass a massive tax and spending bill by Memorial Day, with divisions between the more conservative House Freedom Caucus demanding deep cuts and centrist Republicans who could derail the legislation. Trump's proposal to revert the top tax rate from 37% to 39.6% for the highest earners marks a notable departure from traditional GOP tax-cut orthodoxy, complicating the legislative process. Despite resistance within the party, Trump is actively lobbying members and framing the tax increase as a pragmatic way to address budget concerns while advancing his broader economic agenda. The outcome remains uncertain as GOP leaders seek to unify their conference around the "big, beautiful bill."