Trump Pushes GOP on Higher Taxes for Wealthy

President Donald Trump is urging congressional Republicans, including House Speaker Mike Johnson, to raise the top income tax rate from 37% to 39.6% for individuals earning over $2.5 million and couples earning above $5 million, partially reversing the 2017 Tax Cuts and Jobs Act. The proposal would help fund extended tax cuts for the middle and working class while protecting programs like Medicaid. Trump also seeks to close the carried interest loophole, which benefits investment fund managers. The plan has stirred debate within the GOP, with opposition from fiscal conservatives and support from some populist-aligned members. Trump’s push represents a shift toward more populist tax policy and is part of a broader fiscal package. The proposal's fate remains uncertain as lawmakers negotiate ahead of key legislative deadlines.