Bloomberg – the US president, Donald Trumpis pressing legislators so that Elevate tax rates of some of the richest citizens in order to compensate for the cuts of their package of economic measures.
According to people, aware of the discussions, the president’s proposal consists in creating a new tax range of 39.6% For those who win at least US $ 2.5 million or for couples who win US $ 5 million.
See more: Trump questions the idea of a higher tax for the rich: “They would abandon the country”
Trump made the request by telephone this Wednesday to the president of the House of Representatives, Mike Johnson. He also reiterated his desire to end the tax exemption on the accrued interests claimed by the managers of risk capital and private capital funds, said one of the people consulted.
The representative is expected Jason SmithPresident of the Tax Commission of the House of Representatives, meets Trump this Friday and You will transmit that the Tax Law will respond to the president’s prioritiesan advisor to Congress indicated.
It is not clear if the proposal would be accompanied by an extension of the existing exemption for some income of small businesses paid through the individual code.
If the Congress approves the Trump plan of a 39.6%rate, the upper limit of the income tax would reach a level not seen before the 2017 Trump tax reduction. The current maximum rate for natural persons is 37%.
Trump has sent contradictory signals on the increase in taxes to the rich. He has reflected that this tax could incite Americans rich to move to other countries and that they could harm Republicans at the polls.
See more: Trump’s main legislative agenda will be approved for May, says Mike Johnson
But the proposal comes at a time when legislators are fighting to find a way to pay a billionaire package that Trump has called the “great and beautiful bill” to extend his tax cuts from his first mandate.
Republicans are under growing pressure to limit the cost of the general bill because they are having difficulty reaching an agreement on the cuts to social rights programs, including Medicaid health coverage for low -income Americans.
Increase the taxes to those who earn the most to the Republicans plus maneuvering margin to make Trump’s tax cuts permanent and fulfill some of their campaign promises, including the elimination of encumbrances to tips and the payment of overtime.
Upload Taxes contradicts The rooted republican orthodoxy.
Trump’s disposition to propose a tax rise to millionaires demonstrates how much he has remade of the Republican party in his populist image. The main Republicans have opposed other proposals that would increase taxes to wealthy homes.
The representative Kevin HernRepublican of Oklahoma in the tax committee of the House of Representatives, said that the increase in the maximum rate and the elimination of accrued interests are being discussed, but that There is still no agreement.
“Every time the president asks for something, we will consider it,” he said.
The senator Mike Crapowho leads the Senate Finance Committee, told the conservative radio presenter on Thursday Hugh Hewitt that “is not excited” with the proposal to increase taxes, but that there are “several people both in the Chamber and in the Senate that are.”
“If the president pronounces in favor, then that will be an important factor that we will have to take into consideration,” said Crapo.
Read more at Bloomberg.com
