House Speaker Mike Johnson, R-La., is no “big fan” of hiking the tax rate for America’s wealthiest to 40%, an idea reportedly being mulled by Republicans to offset some costs of their in-progress tax package.
“We’re the Republican Party, and we’re for tax reduction for everyone, and that’s a general principle that we always try to abide by,” Johnson told Fox News’ Maria Bartiromo on Sunday.
Though there are many discussions, thoughts and theories on how to get all the GOP’s goals accomplished, Johnson said he wouldn’t “put any money on any of [those] yet.”
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“I would say just stay tuned. The next five to six weeks are going to be critical as all these negotiations happen in the committees of jurisdiction,” he continued.
“You’ll hear lots of rumors and lots of talk, but we’ll see where it all lands.”
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Johnson voiced the need for consensus on the package, eyeing the 218 votes needed in the House and the 51 votes needed in the Senate for successful passage, assuring viewers that the bill will have reached an adequate “comfort level” before heading to the floor.
According to Bloomberg, the floated 39%-to-40% tax rate would affect those earning $1 million or more annually, a two-to-three percentage increase from the current 37% rate.
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