House Speaker Mike Johnson has expressed opposition to the idea of raising the top tax rate on high-income earners, despite reports that some Republicans are considering such a measure to fund President Trump's proposed agenda.
As Republican lawmakers debate how to finance the extension of President Donald Trump’s tax cuts, fiscal and energy policy organizations are urging them to eliminate costly green energy subsidies.
Newly confirmed Treasury Secretary Scott Bessent has warned that America is facing an economic crisis if Congress fails to extend the 2017 Tax Cuts and Jobs Act (TCJA). If the law expires on December 31, small businesses and American taxpayers will face a massive $4 trillion tax hike. Bessent and conservative lawmakers are pushing for a permanent extension of the TCJA to prevent economic hardship and ensure stability for the nation’s small businesses.
