House GOP Explores Tax Adjustments for Wealthy Amid Trump’s Agenda Bill

House Republicans Consider Tax Changes for High Earners in Major Legislative Push

EXCLUSIVE: Congressional Republicans are crafting a multitrillion-dollar legislative package aimed at advancing President Donald Trump’s agenda, with the potential for modest tax increases targeting affluent Americans, according to a key tax writer in the House GOP.

Representative Nicole Malliotakis, R-N.Y., spoke with Fox News Digital, revealing that discussions have included the prospect of a tax hike on the wealthy. “There’s potentially some talk about a tax hike on wealthier Americans. Our objective in this committee, and the president’s objective, has been to provide tax relief for the working and middle class,” she stated.

Malliotakis emphasized the necessity of finding funding solutions to support these tax relief measures. “We have to find a way to pay for that, so we’ll have to see how this all shakes out,” she added.

A senior aide within the House GOP echoed these sentiments, indicating that tax increases are indeed on the table for discussion.

“The reason we are in the majority and have the ability to pursue this entire process is due to the support of working-class voters, not the wealthiest Americans,” the aide commented. “I believe our tax package will reflect that reality.”

The Importance of the House Ways and Means Committee

Malliotakis plays a significant role on the House Ways and Means Committee, a crucial panel involved in the budget reconciliation process. This process lowers the Senate’s passage threshold from 60 to 51 votes, allowing the ruling party to enact substantial policy reforms while sidelining the opposition, in this case, the Democrats.

The reconciliation process typically begins in the House. Seven committees are ready to convene in the coming weeks to discuss policies relevant to their jurisdictions. These proposals will eventually be incorporated into an overarching budget framework, which will be reviewed by the House Budget Committee before proceeding to a full chamber vote.

The Ways and Means Committee is tasked with managing the tax-related components, an area that is a key priority for President Trump.

Trump’s Tax Policy Aspirations

President Trump aims to extend the 2017 Tax Cuts and Jobs Act (TCJA) while also introducing new tax policies. These could potentially include abolishing taxes on tips, overtime pay, and Social Security benefits for retirees. Meanwhile, Republicans are actively exploring avenues to fund these initiatives.

Malliotakis suggested that an increase in the corporate tax rate is unlikely. However, she indicated openness among several Republican lawmakers regarding a small tax increase on high-income earners to finance Trump’s goals for middle- and working-class Americans.

House Freedom Caucus Chairman Andy Harris, R-Md., shared his thoughts with Fox News Digital, stating, “I personally think that should be on the table if we’re not going to make spending cuts. But I hope we make spending cuts.”

Opposition and Concerns Within the Party

Despite some support for a tax increase on the wealthy, a faction of Republicans opposes the idea. Representative Eric Burlison, R-Mo., expressed his views, stating, “I don’t think we have a revenue problem. I think we have a spending problem. Congress spends far too much money, which takes up a significant portion of our GDP. We need to identify ways to cut spending.”

The specifics of any proposed tax hike remain uncertain. However, discussions have reportedly included ideas such as raising the top tax bracket by approximately 1% or creating a new tax bracket for millionaires, potentially reaching up to 40%.

When approached for details about the upcoming proposal, House Ways and Means Committee Chairman Jason Smith, R-Mo., declined to provide specifics regarding a potential tax hike.

“There are many claims circulating in the media that are not accurate, but I won’t confirm their validity. You will see the bill delivered right before markup,” Smith noted. “I will say that we will propose a tax bill that is pro-growth, pro-jobs, pro-family, pro-small business, and pro-workers. Republicans are committed to ensuring that Americans retain a greater share of their hard-earned income, and the forthcoming tax package will reflect that commitment.”

Smith added that Americans would likely see this plan soon, in a matter of days rather than months.

Fox News Digital’s Deirdre Heavey contributed to this report.