7 hours ago
Trump
advises against tax hike on wealthy, then says he’d be ‘OK’ with it
The idea
re-emerged on Capitol Hill this week as Republicans struggle to find revenue to
partially offset their tax cuts.
Benjamin
Guggenheim
05/09/2025,
9:27am ET
President
Donald Trump in a Truth Social post on Friday said Republicans “should probably
not” boost taxes on the nation’s wealthiest people, while nonetheless saying
“I’m OK if they do!!!”
“The problem
with even a ‘TINY’ tax increase for the RICH, which I and all others would
graciously accept in order to help the lower and middle income workers, is that
the Radical Left Democrat Lunatics would go around screaming, ‘Read my lips,’”
said Trump, referring to a famous pledge by George H.W. Bush in 1988 to not
raise taxes on any American, which he broke and then went on to lose
re-election in 1992.
“Republicans
should probably not do it, but I’m OK if they do!!!”
The comments
come as House Republicans unexpectedly revived discussions on Thursday about
bumping up tax rates for top earners — and as House GOP leaders are pushing for
critical committees to vote next week on major portions of Trump’s “big,
beautiful bill.”
However,
House Republicans are operating under new fiscal constraints pushed by a group
of 30-plus deficit hawks. In particular, the House Ways and Means Committee is
now having to fit all of Trump’s priorities into a much slimmer $4 trillion tax
bill.
Raising the
top income tax rate could help Ways and Means Committee Chair Jason Smith
(R-Mo.) save hundreds of billions on the package. Trump is meeting with Smith
at the White House on Friday.
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