President Donald Trump wants Congress to create a new tax bracket for Americans who earn $2.5 million-plus annually or couples making $5 million or more, according to people familiar with the discussions.
Trump spoke to Speaker Mike Johnson Wednesday night and pitched him the new tax structure. Under Trump’s plan, individuals in this new ultra-high income bracket would see their income tax rate increase from 37% to 39.6%. We scooped this news this afternoon.
Presented by The Texas Tribune Festival
Shape the future of Texas at the 15th annual Texas Tribune Festival — Texas’ breakout ideas and politics event happening Nov. 13–15 in downtown Austin. Be there for a deep dive into the ideas and actions transforming our state.
Presented by The Texas Tribune Festival
Shape the future of Texas at the 15th annual Texas Tribune Festival — Texas’ breakout ideas and politics event happening Nov. 13–15 in downtown Austin. Be there for a deep dive into the ideas and actions transforming our state.
