US EditionRepublicans to reveal whether they will advance tax hike on the wealthy
- This week, the House GOP is set to disclose whether their new tax-cut proposal will include tax increases for the wealthy, deviating from longstanding party policies.
- The tax legislation builds on Trump's 2017 law and is driven by debates over tax rate changes, spending priorities, and the increase of the child tax credit.
- The bill would raise the child tax credit from $1,000 to $2,500 through 2028, propose a state and local tax deduction increase to $30,000, and fund higher spending on military and border security.
- President Trump has privately urged increasing taxes on the wealthy, while House fiscal hawks push for deep spending cuts potentially up to $2 trillion to offset costs.
- The outcome remains uncertain as moderates resist cuts to safety-net programs and Democrats warn the legislation could harm vulnerable populations, risking the bill's passage in the House.
13 Articles
13 Articles
Will Republicans tax the rich?
Republicans have never been known for their eagerness to raise taxes on high-income earners. So it is notable that GOP officials, including President Donald Trump, have in recent weeks openly contemplated the possibility of taxing the rich.Trump last week asked House Speaker Mike Johnson to "include a tax hike on rich Americans" as part of a big new fiscal bill, said The New York Times. The proposal would create a new tax bracket for households …
Myth That Trump Is a Crony for the Wealthy Shattered Forever as He Floats Tax Increase on Richest Americans
Americans of a certain age can remember when elected Republicans recoiled in horror from the idea of taxing the rich. Of course, Republicans of a certain age also remember supporting […] The post Myth That Trump Is a Crony for the Wealthy Shattered Forever as He Floats Tax Increase on Richest Americans appeared first on The Western Journal.
Republicans to Reveal Whether They Will Advance Tax Hike on Wealthy
With President Donald Trump's suggestion to raise taxes on the rich, which would break with decades of party orthodoxy, Republicans in Congress are expected this week to reveal whether they are willing to go ahead.
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