Trump floats raising taxes on the rich to pay for sweeping tax and spending cuts package

Former President Donald Trump said he’s open to a small tax increase on the wealthy to help fund Republicans’ tax and spending cuts package, though the idea is divisive among GOP lawmakers.

In a Truth Social post, Trump said he would accept a “TINY” tax hike but noted the political risk.

He also discussed possibly letting tax cuts expire for top earners.

While Trump has expressed past support for taxing the rich, his economic adviser clarified he’s not a strong advocate, CNN has reported.

Proposals under consideration include restoring the top tax rate to 39.6% or adding a new tax bracket, but GOP leaders remain split.

Written by B.C. Begley