GOP Representative Nick LaLota proposed increasing the top tax rate on high earners to reinvigorate support for President Trump's stalled tax and immigration package. He believes that reinstating the higher rate of 39.6% for individuals earning above $609,350 could generate $300 billion in funds needed to advance the bill. LaLota assures that this strategy would not burden the middle class, and his plan includes higher limits on the SALT deduction to aid taxpayers. Despite internal GOP discord over spending cuts, LaLota remains focused on pushing his proposal forward to define Trump's agenda.
Rep. Nick LaLota stated, 'The One Big Beautiful Bill has stalled - and it needs wind in its sails. Allowing the top tax rate to expire - returning from 37% to 39.6% for individuals earning over $609,350... breathes $300 billion of new life into the effort.'
LaLota emphasized that raising taxes on the highest earners 'would be fiscally prudent and could be done without raising taxes on the middle class.' He aims to leverage new tax revenue to protect Medicaid and address SALT deduction caps.
The GOP-led tax and immigration package is crucial to defining President Trumpâs second term, according to LaLota, who believes the adjusted tax rates could garner essential votes needed for its passage.
With the current $10,000 SALT deduction cap set since 2018, LaLota proposes enhancing this deduction cap significantly, preferring limits of $62,000 for single and $124,000 for joint filers, in a bid to alleviate tax burdens on higher earners.
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