Trump Opposes Tax Hike on Wealthy Amid Expiration of 2017 Cuts

As the 2017 Trump Tax Cuts and Jobs Act (TCJA) nears expiration, debate is intensifying among Republicans over whether to extend the tax cuts or raise taxes on high earners and corporations. While some in the GOP and White House have floated the idea of raising the top marginal tax rate or the corporate tax rate as a way to offset new tax cuts or reduce the deficit, there is significant internal opposition, with critics arguing such moves would undermine economic growth and contradict Trump's original tax policy. President Trump has publicly expressed concern that raising taxes on the wealthy could prompt them to leave the country, which he argues would decrease tax revenues, though some moderate Republicans see increased taxes on top earners as a way to address the national debt. Voter sentiment in key battleground districts supports extending the 2017 tax cuts, particularly among Republicans and independents, according to recent polling. The business community and some analysts argue that maintaining the TCJA rates would bolster long-term economic growth, while critics highlight that renewing the law could significantly add to the federal deficit. The internal Republican debate continues, with no consensus on whether to prioritize deficit reduction, economic growth, or maintaining low taxes for high earners and corporations.