Trump Opens Discussion on Tax Hike for Wealthiest Americans

In a recent closed-door meeting with Senate Republicans, President Donald Trump expressed openness to raising taxes on the wealthiest Americans, as reported by multiple sources familiar with the discussion. Trump's comments, made during a session with the Senate Budget Committee and Majority Leader John Thune, came in response to a proposal from Sen. Lindsey Graham, though attendees noted it was not a strong endorsement. This shift in tone aligns with discussions among some White House allies who suggest that allowing tax increases on high earners could help address other policy priorities, including tax cuts for lower-income individuals. Currently, the top income tax rate for the wealthiest is 37%, and discussions are underway regarding potentially creating a new tax bracket for individuals earning over $1 million. Despite Trump's tentative support, many GOP leaders are focused on extending tax cuts from his 2017 legislation, which are set to expire at year's end, and are generally aiming to avoid any tax increases. House Republicans have voiced intentions to maintain current tax rates, reflecting a division within the party on this issue.