President Trump Almost rejected a proposal Floating among the Republicans of Congress To increase taxes on millionaires to pay their “large and beautiful” agenda package.
In recent weeks, some Republicans posted the possibility of establishing a 40% rate in taxpayers of more than $ 1 million per year. Currently, the higher tax rate is 37% for annual income at $ 609,351.
“I think it would be very harmful because many of the millionaires would leave the country,” said Trump, 78, to journalists at the Oval office on Wednesday.
“In the old days, states left from one state to another. Now, with so fast and so easy transport, they would lose a lot of money if you do that.”
Previously, Trump, 78, said in private that he was open to the idea.
The Republicans had also gone up, with the president of the House of Representatives, Mike Johnson (R-LA). Admitting what it is “He is not a great admirer” or that, while others, such as House Freedom Caucus, Andy Harris (R-MD.) They expressed their openness.
Such tax would generate about $ 400 billion approximately one decade, according to two estimates seen by Bloomberg news.
Republicans are dealing with a complicated arithmetic problem when trying to finance the broad “large and beautiful” agenda package that are looking for tax cuts, improved border security, reinforced defense supply and energy supply.
Between the Chamber and the Senate, the Republicans are somewhere between $ 4.5 billion and $ 5.8 billion of tax cuts and spending incentives for border security and defense in a 10 -year section.
On the camera side, Republicans are looking at a minimum of $ 1.5 billion in expenses for 10 years.
Fiscal hawks have been recent about the legislation that could
The last fiscal year, the United States had a deficit of $ 1.8 billion.
About 61% of the federal budget of approximately $ 6.75 billion It is the mandatory expense, such as Medicare, Social Security and Medicaid. Another 13% is interest in debt.
Some populist factions of the Maga Base have been asking for tax increases on the rich so that mathematics works in the Trump agenda package.
Earlier this month, for example, Trump’s ally Steve Bannon said “real time with Bill Maher” that “Trump and the Maga Movement will increase taxes on the rich.”
Even so, the republican party leaders have minimized the possibility of such tax.
“I wouldn’t expect that,” Johnson told Fox News. “The Will Cain Show” Wednesday. ” We have legs working against that idea. I am not in favor of increasing tax rates, because that is: our party is the group that faces that traditionally. “
The tax cuts that Republicans are looking at the agenda package are an extension of the 2017 tax and job cuts law, whose key provisions will expire at the end of the year, and the Trump campaign Plede or not taxes on tips, the payment of overtime or social security.
In addition, Republicans are considering an increase in the deduction limit of state and local taxes (Ps).
Trump’s economic team has been interested in obtaining a fiscal relief through Congress to give the economy an opportunity as the markets date back to their tariff thrust.
Johnson hopes to take the Trump agenda package to the president’s desk before the day of the fallen, but the key questions such as paying it and what will be cut are still unanswered.
