Trump Cautions GOP on Tax Hike for Rich, But He’s ‘OK’ With It

May 9, 2025, 12:12 PM UTC

President Donald Trump said he would be fine with Republican lawmakers raising taxes on the wealthy, but acknowledged the political challenges of doing so for the party as he prepares to meet with the head of the House tax committee on Friday.

“Republicans should probably not do it, but I’m OK if they do!!!,” Trump said on his social-media platform.

Trump has been pushing lawmakers to increase rates on some of the wealthiest Americans as a way to offset other cuts in an economic package Republicans are preparing to move through Congress. He has also offered mixed messages on his ...

Learn more about Bloomberg Tax or Log In to keep reading:

See Breaking News in Context

From research to software to news, find what you need to stay ahead.

Already a subscriber?

Log in to keep reading or access research tools and resources.