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.
Premium+ Defense is live 
We’ve launched Defense! Our newest Premium+ coverage area takes you deeper into this rapidly evolving industry. From defense tech to appropriations, national security strategy, the military’s role domestically, aerospace and more, Punchbowl News Defense will be your go-to read.
Sign Up For the Defense Newsletter Now!
We’ve launched Defense! Our newest Premium+ coverage area will dive deep into congressional policymaking in defense, national security and aerospace and how this work intersects with initiatives at the Pentagon and White House.
Learn more about the benefits of a Premium+ Defense subscription
