Republicans Consider New Tax Bracket for Wealthy Americans

According to Odaily, Republican members of the White House, Senate, and House of Representatives are drafting analyses to explore the best approach for establishing new tax brackets for the wealthiest Americans. This initiative indicates that under the leadership of U.S. President Donald Trump, the Republican Party is seriously contemplating the idea of increasing taxes on the rich.Sources reveal that the House proposal suggests setting a tax rate of 40% for taxpayers with annual incomes of $1 million or more. Additionally, economic policy advisors from the Senate and the Trump administration are also examining this concept.A White House official stated that President Trump is open to the idea of creating a new top tax bracket. However, the official emphasized that the threshold for higher tax rates should be significantly above $1 million.