Trump, Johnson Dismiss Notion of Tax Increase for Wealthiest Americans
Amid discussions among certain Republicans about increasing the top income tax rate to balance other tax cuts, both the president and the House Speaker expressed their disapproval of the proposal.
TroibNews 
President Donald Trump and House Speaker Mike Johnson voiced their opposition to a tax increase on the wealthiest Americans on Wednesday, likely signaling the end of discussions surrounding this proposal.
In the Oval Office, Trump expressed his belief that such a tax hike would be “very disruptive” as it could lead wealthy individuals to leave the country. He remarked, “You know, the old days, they left states. They go from one state to the other. Now with transportation so quick and so easy, they leave countries. You lose a lot of money if you do that.”
Johnson echoed similar sentiments earlier in the day, stating that he is “not in favor of raising the tax rates because our party is the group that stands against that traditionally.” He noted, “There were lots of ideas thrown out on the table along this process over the last year, but I would just say for everybody, just wait and see,” during an appearance on Fox News.
Discussion around increasing taxes on the wealthy has gained traction among some Republicans as they search for solutions to advance Trump's policy agenda. However, Trump and Johnson’s firm stance against the idea suggests that the GOP may need to consider alternative avenues for budget savings.
The House's proposal outlines $4.5 trillion in spending for tax cuts. Without the ability to secure $2 trillion in corresponding spending cuts, the budget blueprint necessitates that Republicans reduce their planned tax cuts.
When asked about the possibility of including a tax increase for high earners in the strategic legislation aimed at implementing Trump's domestic policy agenda, Johnson replied, “We have been working against that idea. I’m not in favor of raising the tax rates because our party is the group that stands against that traditionally.” He added, “There were lots of ideas thrown out on the table along this process over the last year, but I would just say for everybody, just wait and see.”
Johnson also shared that he and House Majority Leader Steve Scalise had a conference call with the 11 House GOP committee chairs on Wednesday to discuss the next steps for Trump’s "big beautiful bill." House leadership intends for the committees to begin multiple markups when Congress reconvenes from its April recess. “What you’ll see over the next four weeks is the pieces, the various components of that bill, are rolling out of these committees,” Johnson explained.
He emphasized, “We are pushing it very aggressively on schedule, as you said, to get it done by Memorial Day,” highlighting the urgency to stabilize stock market fluctuations and allocate resources for border security.
Trump and Johnson's remarks come as congressional Republicans consider allowing the income tax rate for the highest earners to return to 39.6 percent from the current 37 percent. This expiration by year's end could allow the GOP to save over $300 billion on their proposed legislation.
The forthcoming legislation aims to extend trillions in expiring tax cuts and other benefits suggested by Trump while also addressing funding for border security, energy policies, and defense initiatives.
Influential conservatives, such as former House Speaker Newt Gingrich, have also expressed their disapproval of the idea to increase taxes on the wealthy.
Ian Smith for TROIB News
In the Oval Office, Trump expressed his belief that such a tax hike would be “very disruptive” as it could lead wealthy individuals to leave the country. He remarked, “You know, the old days, they left states. They go from one state to the other. Now with transportation so quick and so easy, they leave countries. You lose a lot of money if you do that.”
Johnson echoed similar sentiments earlier in the day, stating that he is “not in favor of raising the tax rates because our party is the group that stands against that traditionally.” He noted, “There were lots of ideas thrown out on the table along this process over the last year, but I would just say for everybody, just wait and see,” during an appearance on Fox News.
Discussion around increasing taxes on the wealthy has gained traction among some Republicans as they search for solutions to advance Trump's policy agenda. However, Trump and Johnson’s firm stance against the idea suggests that the GOP may need to consider alternative avenues for budget savings.
The House's proposal outlines $4.5 trillion in spending for tax cuts. Without the ability to secure $2 trillion in corresponding spending cuts, the budget blueprint necessitates that Republicans reduce their planned tax cuts.
When asked about the possibility of including a tax increase for high earners in the strategic legislation aimed at implementing Trump's domestic policy agenda, Johnson replied, “We have been working against that idea. I’m not in favor of raising the tax rates because our party is the group that stands against that traditionally.” He added, “There were lots of ideas thrown out on the table along this process over the last year, but I would just say for everybody, just wait and see.”
Johnson also shared that he and House Majority Leader Steve Scalise had a conference call with the 11 House GOP committee chairs on Wednesday to discuss the next steps for Trump’s "big beautiful bill." House leadership intends for the committees to begin multiple markups when Congress reconvenes from its April recess. “What you’ll see over the next four weeks is the pieces, the various components of that bill, are rolling out of these committees,” Johnson explained.
He emphasized, “We are pushing it very aggressively on schedule, as you said, to get it done by Memorial Day,” highlighting the urgency to stabilize stock market fluctuations and allocate resources for border security.
Trump and Johnson's remarks come as congressional Republicans consider allowing the income tax rate for the highest earners to return to 39.6 percent from the current 37 percent. This expiration by year's end could allow the GOP to save over $300 billion on their proposed legislation.
The forthcoming legislation aims to extend trillions in expiring tax cuts and other benefits suggested by Trump while also addressing funding for border security, energy policies, and defense initiatives.
Influential conservatives, such as former House Speaker Newt Gingrich, have also expressed their disapproval of the idea to increase taxes on the wealthy.
Ian Smith for TROIB News
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