Sport Investors League
  • Politics
  • Stocks
  • Investing
  • Business

Sport Investors League

  • Politics
  • Stocks
  • Investing
  • Business
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

0
FacebookTwitterGoogle +Pinterest
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 warns of ‘serious consequences’ if Elon Musk...

June 8, 2025

New report reveals how Trump admin will eliminate...

March 29, 2025

Trump tells Schumer to ‘GO TO HELL’ over...

August 3, 2025

Gunman shoots dead 2 Supreme Court judges in...

January 18, 2025

Elon Musk, Vivek Ramaswamy to lead Trump’s Department...

November 13, 2024

Netanyahu goes against doctor’s orders, appears in Israeli...

January 1, 2025

DNC lambasted for ‘beyond parody’ leadership vote that...

February 3, 2025

Obama issues rare statement on foreign policy issue

July 28, 2025

Catholic groups pummel HHS secretary after heated exchange...

May 17, 2024

Discovery of ‘fraudulent’ voter applications prompts PA probe...

November 2, 2024

    Get free access to all of the retirement secrets and income strategies from our experts! or Join The Exclusive Subscription Today And Get the Premium Articles Acess for Free


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

    Recent

    • Israel set to launch Gaza City offensive: High stakes, high costs ahead

      August 25, 2025
    • New RNC chair Joe Gruters vows to ‘ride the president all the way to victory’ in midterms

      August 25, 2025
    • Russia looks to update nuclear program amid ‘colossal threats’ from West

      August 25, 2025
    • Trump gave the Oval Office a gilded makeover – and covered the cost himself

      August 25, 2025
    • Trump learns a lesson grounded in faith, how best to stand tough on trade with China

      August 25, 2025

    Categories

    • Business (1,076)
    • Investing (2,896)
    • Politics (3,547)
    • Stocks (1,155)
    • About us
    • Contact us
    • Privacy Policy
    • Terms & Conditions

    Disclaimer: sportinvestorsleague.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 sportinvestorsleague.com | All Rights Reserved