President Donald Trump is pushing for the establishment of a tax bracket for individuals earning over $2.5 million (about 350 million won) annually.
According to Reuters and other sources on the 8th (local time), President Trump has demanded tax increases for high earners from Republican congressional leaders. The previous day, he reportedly conveyed his position to House Speaker Mike Johnson.
Multiple sources indicated that President Trump proposed to establish a tax bracket for individuals with incomes exceeding $2.5 million (about 350 million won) or couples with combined incomes over $5 million, imposing a tax rate of 39.6%.
Currently, the highest personal income tax rate in the United States is 37%.
This contrasts sharply with President Trump's earlier pledge for large-scale tax cuts during the presidential campaign. The Republican Party is pushing to extend existing tax cut measures ahead of the expiration of Trump's tax cuts at the end of this year, including tax exemptions for additional work allowances.
A Trump administration official told Axios, "This will be used for the tax cuts promised to the working class and middle class," adding, "We will protect Medicaid."
Some analysts suggest that President Trump made this proposal to avoid criticism that his 'Make America Great Again' (MAGA) agenda has only benefited the wealthy.