President Donald Trump has recently pushed House Speaker Mike Johnson to create a new tax bracket that raises taxes for individuals earning $2.5 million or more. The proposed plan includes increasing the top tax rate to 39.6% for high earners, as well as closing the carried interest loophole. This development signifies a shift as Trump, who previously expressed reluctance about raising taxes on the wealthy, now appears more open to the idea as a strategy to balance his administration's tax priorities and fend off Democratic criticisms.
President Trump has reportedly urged House Speaker Johnson to establish a new tax bracket aimed at increasing taxes on wealthy individuals.
In a push for tax reform, Trump has been open to suggestions of raising taxes on the rich as a strategic means to balance his administration's agenda.
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