Trump, Johnson Pour Cold Water on Proposal to Raise Top Marginal Rates

Asked whether such a proposal could make it into Republicans’ final funding package, House Speaker Mike Johnson replied, ‘I would not expect that.’

Speaker of House Mike Johnson (R-La.) speaks at a press conference at the U.S. Capitol in Washington, on Feb. 5, 2025. Win McNamee/Getty Images

House Speaker Mike Johnson (R-La.) said he doesn’t expect that Republicans will pursue a tax increase for the wealthiest American earners, squelching long-circulating speculation that top marginal tax rates might be allowed to increase under the GOP budget proposal.

President Donald Trump also indicated in comments to the press from the Oval Office that he is uninterested in pursuing the proposal further.