“The Republicans on the House Ways and Means Committee — engaged in a high-pressure, high-stakes tax policy rewrite — are currently exploring not cutting the income tax rate for people who earn $1 million or more per year,” according to Jonathan Swan.
Playbook: “Multiple Republicans have even suggested to us the tax rate could go from 39.6% to 40% for top earners. It’s tough to separate hyperbole from reality, so take this with a grain of salt. If it happened, it would would strip Democrats of a talking point, and could help with revenue. On the other hand, Republicans would be raising a tax rate. We doubt it will happen, but it does give a sense of where the debate is.”
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