The Great Assets
  • Business
  • World News
  • Politics
  • Investing
  • Business
  • World News
  • Politics
  • Investing

The Great Assets

Politics

Trump pushes tax hikes for wealthy as ‘big, beautiful bill’ deadline looms

by admin May 10, 2025
May 10, 2025
Trump pushes tax hikes for wealthy as ‘big, beautiful bill’ deadline looms

House Republicans are trying to find the right cocktail of tax reductions and new revenue to pass President Donald Trump’s ‘big, beautiful bill’ by Memorial Day. 

No taxes on tips is politically popular and is a key campaign promise of the president, but a coalition of deficit hawks could block that if the GOP fails to find revenue to cover the gap. 

That is why the president pushed House Speaker Mike Johnson, R-La., this week to raise taxes on the super rich. 

Trump is considering allowing the rate on individuals making $2.5 million or more to increase by 2.6%, from 37% to 39.6%, Fox News Digital reported Thursday.

Such a move would resonate with working-class Americans who elected the president. However, many conservatives have signed pledges for years against raising any taxes. 

Trump wrote in a Truth Social post Friday morning, ‘The problem with even a ‘TINY’ tax increase for the RICH, which I and all others would graciously accept in order to help the lower and middle income workers, is that the Radical Left Democrat Lunatics would go around screaming, ‘Read my lips,’ the fabled Quote by George Bush the Elder that is said to have cost him the Election. NO, Ross Perot cost him the Election! In any event, Republicans should probably not do it, but I’m OK if they do!!!’

A deduction for state and local taxes (SALT) also remains unresolved as a group of Republican representatives from New York threaten to vote against the latest proposal. Meantime, a debate rages about health assistance.

House Budget Committee Chairman Jodey Arrington, R-Texas, accused Democrats of trying to ‘paralyze our conference’ and ‘frighten’ Republicans about Medicare and Medicaid cuts. Specifics are key.

‘Until we see what comes out of the committee, I don’t know what’s on and what’s off,’ said Freedom Caucus Chairman Andy Harris, R-Md.

This post appeared first on FOX NEWS

previous post
Trump’s tax hike proposal is ‘déjà vu’ of George H. W. Bush’s ‘read my lips’ moment, experts say
next post
Vance says India-Pakistan conflict ‘none of our business’ as Trump offers US help

Related Posts

Trump pick for Joint Chiefs chair tells Senate...

April 2, 2025

Conservatives flip script on Senate Dems pushing identical...

March 5, 2025

Israeli prime minister lauds Trump’s leadership when asked...

February 5, 2025

Former Trump officials reject whistleblower claim that FBI...

January 29, 2025

DOGE stimulus checks: Johnson side-steps question on Trump...

February 21, 2025

GOP defectors help Senate advance resolution to cancel...

April 3, 2025

Hakeem Jeffries blames Trump for Newark Airport chaos,...

May 6, 2025

House GOP’s budget impasse thaws just as winter...

February 13, 2025

Trump says he’ll speak with Putin in call...

March 18, 2025

Hamas releases 4 female hostages as part of...

January 25, 2025

    Join our mailing list to get access to special deals, promotions, and insider information. Your exclusive benefits await! Enjoy personalized recommendations, first dibs on sales, and members-only content that makes you feel like a true VIP. Sign up now and start saving!


    By opting in you agree to receive emails from us and our affiliates. Your information is secure and your privacy is protected.

    Editors’ Picks

    • 1

      Top 11 Countries by Rare Earth Metal Production

      February 27, 2025
    • 2

      Capital One outage drags into Friday afternoon, leaving some customers without deposit access

      January 23, 2025
    • 3

      Altech Batteries LtdCERENERGY Accredited Highest Possible Green Rating

      January 24, 2025
    • 4

      Bank of America CEO says financial industry will jump into crypto payments if regulators allow it

      January 23, 2025
    • 5

      Netflix shares soar as company reports surging revenue, tops 300 million subscribers

      January 23, 2025
    • 6

      Altech – CERENERGY Accredited Highest Possible Green Rating

      January 24, 2025
    • 7

      Strategic Alliance with Macmahon to Accelerate Redevelopment of Nifty

      January 23, 2025
    • About us
    • Contacts
    • Privacy Policy
    • Terms and Conditions
    • Email Whitelisting

    Disclaimer: thegreatassets.com, its managers, its employees, and assigns (collectively “The Company”) do not make any guarantee or warranty about what is advertised above. Information provided by this website is for research purposes only and should not be considered as personalized financial advice. The Company is not affiliated with, nor does it receive compensation from, any specific security. The Company is not registered or licensed by any governing body in any jurisdiction to give investing advice or provide investment recommendation. Any investments recommended here should be taken into consideration only after consulting with your investment advisor and after reviewing the prospectus or financial statements of the company.


    Copyright © 2025 thegreatassets.com | All Rights Reserved