Republicans Explore New Tax Brackets for Wealthy Americans

Republican lawmakers are actively investigating potential methods to implement new tax brackets specifically targeting wealthy individuals. Recent analyses by various Republican groups, including those in the House and Senate, have focused on exploring this initiative under President Trump’s leadership. The proposed framework suggests a significant increase in taxes for taxpayers earning over $1 million annually, potentially reaching as high as 40%. This proposal reflects a growing interest within the Republican Party to address wealth inequality through taxation.