White House officials are considering a higher tax rate for the wealthiest Americans to help pay for cutting taxes on tips, report says

Quick Summary:

Ending taxes on tips was one of President Donald Trump's top campaign pledges, and he has reaffirmed it since returning to the White House.

The possibility of letting the top rate rise comes as Republicans acknowledge the political risks of the tax-cut agenda, which Democrats have said will help the wealthy and result in cuts to Medicaid.

The Tax Cuts and Jobs Act of 2017 was Trump's signature economic policy achievement in his first term and lowered the top income tax rate to 37%.

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Article Details

Author / Journalist: Jason Ma

Category: EconomyBusiness

Markets: United States

Topics: Taxes Tips Donald Trump

Source Website Secure: Yes (HTTPS)

News Sentiment: Neutral

Fact Checked: Legitimate

Article Type: News Report

Published On: 2025-03-31 @ 17:26:34 (1 days ago)

News Timezone: GMT +8:00

News Source URL: fortune.com

Language: English

Article Length: 575 words

Reading Time: 4 minutes read

Sentences: 4 lines

Sentence Length: 144 words per sentence (average)

Platforms: Desktop Web, Mobile Web, iOS App, Android App

Copyright Owner: © Fortune

News ID: 27491327

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Official Website: fortune.com

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