The Washington Post reports that President Donald Trump’s inner circle is exploring the possibility of raising taxes for Americans earning more than $1 million a year.
According to a source citing anonymous officials and several other informed individuals, U.S. Vice President JD Vance and Director of the Office of Management and Budget Russell Vought support this initiative.
However, influential Republicans such as Speaker of the House Mike Johnson, as well as Senators Dave McCormick and Ted Cruz, oppose raising taxes on the wealthy, the publication notes.
Republicans in Congress are exploring various ways to reduce government spending but are aware of the political risks involved in raising taxes, especially given that they have continued to cut taxes for wealthy Americans by hundreds of billions of dollars under the 2017 tax law. These difficulties have led some of Trump’s supporters to consider increasing taxes on the richest, the Washington Post reports.
White House advisers are currently working on different options to implement this legislative proposal in order to gain support in Congress. However, there is a risk of an intra-party crisis among Republicans due to disagreements on this issue.
