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Trump's proposal to raise the tax rate on the wealthy to 39.6% sparks debate within the Republican Party
According to Deep Tide TechFlow, Trump proposed raising the tax rate on the wealthy to 39.6%, targeting individuals with an annual income of $2.5 million or couples with an income above $5 million. This move would bring the top tax rate back to the level before the 2017 tax cuts.
U.S. Secretary of Commerce Raimondo supports the proposal aimed at raising funds for economic programs and avoiding cuts to welfare programs. However, this proposal has sparked debate within the Republican Party, with several key figures worried that tax increases could lead to a loss of political support.
Senate Finance Committee Republican Chairman Crapo is cautious, acknowledging that presidential support will be an important factor to consider.
U.S. Secretary of Commerce Raimondo supports the proposal aimed at raising funds for economic programs and avoiding cuts to welfare programs. However, this proposal has sparked debate within the Republican Party, with several key figures worried that tax increases could lead to a loss of political support.
Senate Finance Committee Republican Chairman Crapo is cautious, acknowledging that presidential support will be an important factor to consider.
Disclaimer: Includes third-party opinions. No financial advice. May include sponsored content. See T&Cs.
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