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.
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Our new weekly show, Fly Out Day, brings you inside the most consequential decisions shaping Congress with the people at the center of the story. From Hill leadership to Washington’s most-plugged in reporters, join us straight from our townhouse each Thursday evening. Watch the latest episode now.
