Trump wrote on Truth Social this morning that Republicans in Congress likely should not put a tax increase on wealthy Americans into their budget package, claiming that if they did so, then Democrats would claim the move breeched GOP orthodoxy on taxes and would try to use that as a cudgel against them.
“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,’ the fabled Quote by George Bush the Elder that is said to have cost him the Election,” Trump wrote. “NO, Ross Perot cost him the Election!”
“In any event, Republicans should probably not do it, but I’m OK if they do!!!”
The Democratic Party has long pursued increases in taxes on the wealthiest Americans.
NBC News reported yesterday that Trump had privately urged House Speaker Mike Johnson, R-La., to add a provision to their reconciliation bill that would increase the tax rate on the highest earners.
It’s not clear whether such a provision and another requested by Trump, to close the so-called carried interest loophole, will be wrapped into the bill. NBC News reported there has been some talk among House Republicans over the last 24 hours about potentially allowing the top tax rate to go up and closing that loophole.
