A Trump tax hike on the rich?
Steve Bannon continues pattern of working against party establishment
Axios reported Sunday that President Trump’s chief strategist, Steve Bannon, has been pushing for a tax hike for the wealthiest Americans, a move sure to gain little traction among the Republican establishment.
According to the report, Bannon told colleagues the tax rate for the top income bracket, which currently sits at 39.6%, should “have a 4 in front of it.”
There is as of yet no indication that Trump has any intention of pushing for such a tax hike, while Trump’s chief economic advisor Gary Cohn and Treasury Secretary Steven Mnuchin continue to lead the effort on tax leglislation.
Cohn and Mnuchin are eager to get an aggressive tax reform package passed by the end of the year. Cohn reportedly feels that chances of passing legislation on taxes are grim if it gets pushed to next year.