WASHINGTON, DC – The United States of America President Donald Trump has said he is open to raising taxes on the wealthiest Americans as Republicans rework the scope of their tax reform package this year.
“Republicans should probably not do it, but I’m OK if they do,” the president posted on his social media on Friday.
Speaking later from the Oval Office, President Trump expressed support for what he called a form of redistribution aimed at supporting middle and lower-income earners.
“I would love to do it, frankly. What you’re doing is giving something up at the top to give more to the middle and working classes. So it’s a redistribution—and I’m willing to do it if they want,” he said.
Despite being a billionaire real estate mogul, Trump indicated that he would not mind paying more in taxes himself. “I would love to give people in a lower bracket a big break by giving up some of what I have.”
Trump’s comments come as Republican leaders, including House Speaker Mike Johnson, consider revising their tax cut proposal from the initial $4.5 trillion to $4 trillion. According to aides, the trimming is part of an effort to strike a balance between tax relief and sustainable spending.
Behind closed doors, Trump has reportedly urged Speaker Johnson to consider increasing the top individual tax rate to 39.6 percent, up from 37 percent, for individuals earning over $2.5 million and couples earning at least $5 million annually. The proposal includes carve-outs for small businesses.
The president has also pushed for the closure of the carried-interest loophole, a longstanding tax break for Wall Street fund managers.
But not all Republicans are enthusiastic about the idea. Senate GOP leader John Thune told Fox News, “We don’t want to raise taxes on anybody. We’re about lowering taxes on Americans.”
Within the party, debates continue over how to pay for Trump’s vision of “one big, beautiful bill” that includes tax cuts, enhanced border security, increased military spending, and energy deregulation.
Trump argues that restoring higher tax rates on the ultra-wealthy could protect essential programs such as Medicaid and unlock funding for more substantial tax relief for working families.
Still, he warned that Democrats could use any tax hike, however minimal, as political ammunition, citing the example of former President George H.W. Bush, who lost his 1992 re-election bid after going back on his “no new taxes” pledge.
The Republican president’s remarks also appear to have opened a policy window within the party. Maryland Congressman Andy Harris, who chairs the conservative House Freedom Caucus, said he supports restoring the pre-2017 tax rate on million-dollar incomes if spending cuts alone cannot fund the package.
Meanwhile, spending reductions targeting Medicaid and other federal programs continue to fall short of the $2 trillion goal over a decade, raising further doubts about how the GOP plans to cover the full cost of its proposals.
Republicans hope to pass the updated tax package alongside a larger budget bill that includes immigration enforcement and economic stimulus measures. Whether Trump’s suggestion gains traction within his own party remains to be seen.
