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GOP Divided Over Proposed Tax Hike for Top Earners

House Speaker Mike Johnson opposes raising the top tax rate to 40% as Republicans debate offsets for Trump's fiscal agenda.

: U.S. Speaker of the House Mike Johnson (R-LA) speaks at a press conference with Senate Majority Leader John Thune (R-SD) on the Republican budget bill at the U.S. Capitol on April 10, 2025 in Washington, DC.
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Overview

  • House Speaker Mike Johnson reaffirmed his opposition to raising the top tax rate for millionaires to 40%, citing the Republican Party's principle of tax reduction for all Americans.
  • Republicans are considering a potential increase in the top tax rate from 37% to 39%-40% to offset costs in President Trump's broader tax package.
  • Ongoing negotiations in Congress are expected to be critical over the next five to six weeks as lawmakers aim to build consensus within narrow majorities in both the House and Senate.
  • Key GOP figures remain divided, with Representative Andy Harris open to modest tax increases for high earners, while House Majority Leader Steve Scalise opposes any rate hikes.
  • Johnson emphasized the need for 218 votes in the House and 51 in the Senate, assuring that any finalized package will have broad support before advancing to the floor.