• Economy
  • Editor’s Pick
Money Rise Today – Investing and Stock News
  • Investing
  • Stock
Editor's Pick

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

by May 9, 2025
written by May 9, 2025

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 comment
0
FacebookTwitterPinterestEmail

previous post
OpenAI’s Sam Altman thanks Sen John Fetterman for ‘normalizing hoodies’
next post
Vance says India-Pakistan conflict ‘none of our business’ as Trump offers US help

related articles

Trump says 80% tariff on China ‘seems right’...

May 9, 2025

Trump’s tax hike proposal is ‘déjà vu’ of...

May 9, 2025

Pope Francis-era deal with Chinese Communist Party again...

May 9, 2025

Vance says India-Pakistan conflict ‘none of our business’...

May 9, 2025

Former Supreme Court Justice David Souter dead at...

May 9, 2025

OpenAI’s Sam Altman thanks Sen John Fetterman for...

May 9, 2025

Trump claims ‘I don’t know her’ and ‘listened...

May 9, 2025

Rubio just got an additional job in Trump’s...

May 9, 2025

Department of Justice opens criminal investigation into NY...

May 9, 2025

Trump’s first vice president urges his old boss...

May 9, 2025
Enter Your Information Below To Receive Free Trading Ideas, Latest News, And Articles.


Your information is secure and your privacy is protected. By opting in you agree to receive emails from us. Remember that you can opt-out any time, we hate spam too!

Latest News

  • Women’s basketball league Unrivaled secures $28M in funding from star-studded investor lineup

    December 17, 2024
  • What are election betting odds? Expert explains why Trump is current favorite

    October 22, 2024
  • Trump begins second term in stronger position than the first: poll

    January 30, 2025
  • Iowa rep in swing district endorsed by group working to elect GOP women

    April 28, 2025
  • ‘We have never been this close to peace’ since Russia invaded Ukraine, Leavitt tells reporters

    March 14, 2025

Popular Posts

  • 1

    Secret Service admits leaning on ‘state and local partners’ after claim it ignored Trump team’s past requests

    July 21, 2024
  • 2

    Elon and Vivek should tackle US funding for this boondoogle organization and score a multimillion dollar win

    December 4, 2024
  • 3

    Forex Profit Calculator: Maximize Your Trading Potential

    July 10, 2024
  • 4

    Five more House Democrats call on Biden to drop out, third US senator

    July 19, 2024
  • 5

    Biden calls to ‘lower the temperature’ then bashes Trump in NAACP speech

    July 17, 2024

Categories

  • Economy (829)
  • Editor's Pick (4,442)
  • Investing (604)
  • Stock (735)

Latest Posts

  • Alphabet’s Q2 earnings preview: Revenue set to surge nearly 14% driven by AI and ad market revival

    July 22, 2024
  • Kamala Harris should prosecute Big Pharma, not bail it out

    October 7, 2024
  • Trump-backed bills targeting activist judges, noncitizen voting head for House-wide votes

    April 1, 2025

Recent Posts

  • Hasbro says it’s taking steps to offset China tariff effects

    February 21, 2025
  • ApeCoin and Akita Inu: ApeCoin stopped this morning at 0.826

    July 16, 2024
  • Vance gives full-throated support for Israel, has choice words for Biden-Harris at Oct 7 memorial rally

    October 7, 2024

Editor’s Pick

  • Trump zeroes in on national security at first outdoor rally since assassination attempt: ‘World is on fire’

    August 21, 2024
  • Zyn-maker Philip Morris announces $600 million Colorado facility to ramp up production

    July 17, 2024
  • Buffett’s Berkshire Hathaway hits $1 trillion market value, first U.S. company outside of tech to do so

    August 29, 2024
  • About us
  • Contacts
  • Privacy Policy
  • Terms and Conditions
  • Email Whitelisting

Disclaimer: moneyrisetoday.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 moneyrisetoday.com | All Rights Reserved

Money Rise Today – Investing and Stock News
  • Economy
  • Editor’s Pick
Money Rise Today – Investing and Stock News
  • Investing
  • Stock