Will Donald Trump dedicate himself to his fiscal policy? For several months, the US president has embarked on a commercial war aimed at increasing customs duties in products entering the United States in particular to finance tax cuts that he wishes to consolidate and expand. But the wind seems to have changed direction in recent weeks. According BloombergThe White House tenant asked the president of the Mike Johnson Representatives Chamber on Wednesday to increase the tax rate of the richest Americans.
This application occurs when the lower Congress Chamber, dominated by Republicans, works in order to adopt a bill that must extend the legislative text on fiscal reductions dating from the first presidential mandate of Donald Trump. Specifically, the US President wishes to return to one of the emblematic provisions of the Tax and Jobs Cutting Law that had reduced the 37% marginal tax rate for the richest Americans. Therefore, this rate would amount to 39.6% for people who earn more than $ 2.5 million and couples whose income is greater than $ 5 million.
Under the pressure of the Democrats … and the popular part of his electorate
Only one month ago, Donald Trump had once again promised “the highest tax cuts” never seen in the United States, in the form of a “large and beautiful law” that would extend the reductions of taxes established during his first mandate in 2017. The fall of taxes, if adopted by the Senate and the House of Representatives, where the Republicans are most Americans of American households. But with a more clear positive effect for the richest, those with more than $ 450,000 in annual income.
This change in the fiscal trajectory occurs in a pressure context of the popular classes that voted for Donald Trump in the last presidential elections that affirm a greater use of the richest Americans. At the same time, the elected Democrats have continued to present the head of the United States as president of the rich. And for a good reason, the budget road map of the presidential program plans to compensate for tax cuts by reducing certain public aid programs, such as Medicaid, the health insurance of millions of low -income Americans.
Source: BFM TV
