WNYUZ
No Result
View All Result
  • Home
  • Politics
  • Opinion
  • Business
  • World
  • Health
  • Entertainment
  • Tech
  • Home
  • Politics
  • Opinion
  • Business
  • World
  • Health
  • Entertainment
  • Tech
No Result
View All Result
WNYUZ
No Result
View All Result
Home News

Trump urges Speaker Mike Johnson to raise taxes on the wealthy, adding new wrinkle to massive GOP bill

May 9, 2025
in News
Yahoo news home
491
SHARES
1.4k
VIEWS
Share on FacebookShare on Twitter

WASHINGTON — President Donald Trump privately pressed House Speaker Mike Johnson, R-La., during a phone call Wednesday to add two additional proposals to the massive package for his agenda: one to raise the tax rate on the highest earners and the other to close the so-called carried interest loophole, according to a Republican leadership source, as well as two other GOP sources familiar with the call.

Trump’s eleventh-hour requests add a new wrinkle to an already complicated process for Republican lawmakers as they desperately try to find enough savings for the bill, which seeks to extend his 2017 tax cuts, boost funding for immigration enforcement and defense and raise the debt limit.

The White House has kicked around the idea of hiking the top tax rate for the wealthiest people for the past few months, and it now believes it is close to finalizing a topline number for the bill, according to one of the GOP sources familiar with the call.

The other GOP source familiar with the call said Trump is considering allowing the rate on individuals making $2.5 million or more annually to revert from 37% to the pre-2017 39.6% to protect Medicaid and help pay for middle- and working-class tax cuts.

Punchbowl News was first to report the call.

While Republicans have floated the idea of allowing tax rates on top earners to go up when major parts of the 2017 tax law expire at the end of this year, GOP leaders have resisted a tax increase on the wealthy, traditionally anathema within the party.

Trump also shot down the idea of increasing taxes on millionaires last month, saying it would be “disruptive.”

“You’ll lose a lot of money if you do that,” he said at the time. “And other countries that have done it have lost a lot of people. They lose their wealthy people. That would be bad, because the wealthy people pay the tax.”

But with Trump pushing Johnson to reverse course and House Republicans struggling to make the math work for their massive bill, leadership is now reconsidering its options.

A senior House Republican closely involved in the negotiations confirmed to NBC News that there has been revived talk inside the House GOP conference over the last 24 hours about potentially allowing the top tax rate to go up, as well as closing the carried interest loophole.

Asked how seriously the new proposals are being taken, the House Republican said, “At this point, we have to find the savings, so I think everything is being taken under consideration.”

The tax-writing House Ways and Means Committee plans to mark up its part of the reconciliation bill next week, but it is still sorting through a number of thorny issues, such as how to raise the cap on the state and local tax deduction, or SALT. House GOP leaders are aiming to pass the final package on the floor before Memorial Day, which is an ambitious timeline.

This article was originally published on NBCNews.com

The post Trump urges Speaker Mike Johnson to raise taxes on the wealthy, adding new wrinkle to massive GOP bill appeared first on NBC News.

Tags: carried interest loopholeDonald TrumpEvan VucciGOPhouseHouse Republicansmassive billMike JohnsonNBC Newstax rateWhite HouseYahooYahoo News
Share196Tweet123Share
Cook Scrutiny Builds After Criminal Referral Over Third Mortgage
News

Cook Scrutiny Builds After Criminal Referral Over Third Mortgage

August 29, 2025

(Bloomberg) — Federal Housing Finance Agency Director Bill Pulte sent a new criminal referral against Federal Reserve Governor Lisa Cook, ...

Read more
News

Delta to pay $78.75 million to resolve fuel dump lawsuit

August 28, 2025
News

RFK Jr. Says CDC Needs to More Closely Align With Trump’s Agenda

August 28, 2025
News

US tariffs on Brazil will reshape global beef trade flows, analysts say

August 28, 2025
News

Trump Team Weighing Options to Extend Influence to Fed Banks

August 27, 2025
Trump Threatens NBC, ABC Licenses Over News Coverage

Trump Threatens NBC, ABC Licenses Over News Coverage

August 25, 2025
BOJ’s Ueda expects tightening job market to push up wages

BOJ’s Ueda expects tightening job market to push up wages

August 23, 2025
18 months after becoming the first human implanted with Elon Musk’s brain chip, Neuralink ‘Participant 1’ Noland Arbaugh says his whole life has changed

18 months after becoming the first human implanted with Elon Musk’s brain chip, Neuralink ‘Participant 1’ Noland Arbaugh says his whole life has changed

August 23, 2025

© 2025 WNyuz.com

No Result
View All Result
  • Home
  • Politics
  • Opinion
  • Business
  • World
  • Health
  • Entertainment
  • Tech

© 2025 WNyuz.com