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

Trump’s first vice president urges his old boss against raising taxes on wealthy Americans

by May 9, 2025
written by May 9, 2025

Former Vice President Mike Pence has a message for his old boss.

Pence is urging President Donald Trump, under whom he served as vice president in Trump’s first administration, not to raise the tax rate on wealthy Americans.

Trump’s 2017 Tax Cuts and Jobs Act, the signature domestic achievement of his first White House term, is scheduled to expire this year if it’s not extended by Congress.

The Trump White House and some congressional Republicans for weeks have mulled letting the tax reductions on the wealthy sunset as a way to pay for the rest of the tax cuts as well as Trump’s other pricey second-term priorities. 

 

And the president, during a Wednesday phone call, pushed House Speaker Mike Johnson to raise taxes on the highest income earners and close the carried interest loophole in the reconciliation process, Fox News Digital confirmed. The development was first reported Thursday by Punchbowl News.

A source familiar with Trump’s thinking said Trump is considering allowing the rate on individuals making $2.5 million or more to increase by 2.6%, from 37% to 39.6%.

But Pence, a fiscal conservative and budget hawk during his long political career in the House of Representatives, as Indiana governor and as vice president, strongly cautioned against upping the rates on the highest earners.

‘Any suggestion that I’ve heard among some in and around the administration that we raise the top margin rate, the so-called millionaires tax, would be an enormous tax increase on small business owners across America,’ Pence said. ‘It needs to be opposed.’

And the former vice president, in an interview with Fox News Digital this week, argued that ‘the majority of people that file taxes of a million dollars are simply individuals that own businesses, and they file their taxes as an individual, but then plow that money back into their company. If you raise that top margin, it would be an enormous tax increase on small business America.’

‘Let’s make all the Trump-Pence tax cuts permanent. That’s a way to really lay a foundation to grow the economy in the days ahead,’ Pence urged.

Pence, who was interviewed in Boston after receiving the John F. Kennedy Profiles in Courage award, gave ‘President Trump all the credit in the world for an historic victory last November, and for sparing the country one more liberal Democrat administration.’

He also praised Trump ‘not only for his victory, but for securing our southern border, for restoring morale and recruitment in our military, for taking the fight to the Houthis.’

But he argued that ‘I truly do believe that some of the other steps the president is taking away from that conservative agenda should be a concern that would work against his legacy and ultimately the success of our party or our country. And so we’re going to continue to be a voice against them.

‘I really do believe that for prosperity … for the success of our country, we need to stick to those time-honored principles of strong defense, American leadership on the world stage, less government, less taxes, traditional moral values and the right to life, and I’m going to be a voice for that,’ Pence added.

This post appeared first on FOX NEWS
0 comment
0
FacebookTwitterPinterestEmail

previous post
White House highlights over $2B in savings from DEI cuts during Trump administration’s first 100 days
next post
Department of Justice opens criminal investigation into NY AG Letitia James

related articles

Cambodia to nominate Trump for Nobel Peace Prize...

August 2, 2025

Recess on ice as Republicans hunker down for...

August 1, 2025

Trump moves nuclear submarines weeks after praising sub’s...

August 1, 2025

WATCH: Trump says he is hopeful Hillary Clinton...

August 1, 2025

Iran says it has ‘plenty of scientists’ left...

August 1, 2025

Trump endorses ‘MAGA warrior’ for RNC chairman after...

August 1, 2025

Trump repositions 2 nuclear submarines after ‘highly provocative’...

August 1, 2025

Kavanaugh cites 3 presidents in explaining Supreme Court’s...

August 1, 2025

China’s growing nuclear arsenal aims to break US...

August 1, 2025

Trump ally Bukele’s party amends El Salvador constitution...

August 1, 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

  • SEN. JEANNE SHAHEEN: If Trump wants a Ukraine deal, he should reread his own book

    May 29, 2025
  • Israel’s Minister of Defense cancels visit to Pentagon amid Middle East conflict escalation

    October 9, 2024
  • Fetterman hails Rubio as ‘strong choice’ for secretary of state, says he will vote to confirm him

    November 12, 2024
  • State Department to axe 1,800 employees

    July 11, 2025
  • Former Iraqi refugee living in Texas pleads guilty to conspiring to support ISIS

    March 10, 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

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

    July 19, 2024
  • 3

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

    December 4, 2024
  • 4

    Forex Profit Calculator: Maximize Your Trading Potential

    July 10, 2024
  • 5

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

    July 17, 2024

Categories

  • Economy (829)
  • Editor's Pick (5,603)
  • Investing (634)
  • Stock (867)

Latest Posts

  • VP finalist Marco Rubio arrives at RNC with praise for Trump following selection of JD Vance as running mate

    July 17, 2024
  • Elon Musk delays Tesla humanoid robots to 2025: Should investors be concerned?

    July 22, 2024
  • FBI investigation of Trump assassination attempt involves ‘full force’ of the department, Wray says

    September 18, 2024

Recent Posts

  • Will Vance remark about US bailing on Ukraine encourage Putin to sink nascent peace talks?

    May 21, 2025
  • Election Day in Wisconsin, Florida: What to watch as conservatives face a statewide electoral test

    April 1, 2025
  • Ex-Obama official predicts Harris will seek new Iran nuclear deal: ‘Has to be the goal’

    August 27, 2024

Editor’s Pick

  • Trump announces newest nominations to lead DOJ, regulate US railroads

    December 22, 2024
  • JEPI Stock Price And Analysis

    September 17, 2024
  • How Vuori reached a $5.5 billion valuation by taking share from Lululemon

    December 19, 2024
  • About us
  • Contacts
  • Privacy Policy
  • Terms & Conditions

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