The Trump administration is considering a policy that could see tax rates for the wealthiest Americans rise to accommodate funding for other agenda items. This potential shift is aimed at facilitating the continuation of his 2017 tax cuts while addressing concerns about optics related to social spending cuts. The proposal includes cutting taxes on tips, thus allowing wealthier taxpayers to shoulder a greater tax burden. However, all discussions are still in preliminary stages, and no definitive plans have been finalized yet.
Currently the top income tax rate is 37%, but if the 2017 tax cuts expire, that would increase to 39.6%, impacting the highest earners significantly.
Some White House officials believe letting income taxes on the very highest earners rise would buy breathing room on other priorities and help blunt Democrats' attacks.
Collection
[
|
...
]