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The Republican Party is reportedly considering a 40% tax rate on millionaires to offset tax cut costs
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2025-04-16 05:01 8,243
Golden Finance reported that Republicans in the White House, Senate and House are drafting an analysis to study how to best set new tax ratings for the wealthiest people in the United States, a move that shows that the Republicans under U.S. President Donald Trump are seriously considering the idea of ​​raising taxes to the rich. According to people familiar with the matter, the House of Representatives' proposal plans to set the taxpayer tax rate of $1 million and above at 40%. Sources pointed out that economic policy advisers in the Senate and Trump administration are also studying the idea. A White House official said Trump is open to setting up a new top tax rating. But the official stressed that the threshold for higher tax rates should be much higher than $1 million.
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