Well, maybe not entirely on Capitol Hill Republicans. A couple of weeks ago, the GOP began discussing a hike in the top tax rate to balance out predicted revenue reductions by expanding the state and local tax deduction (SALT) from its current cap at $10,000. The plan would be to get the new reconciliation bill to a deficit-neutral outcome by massaging the revenue derived from the highest earners, while giving some relief to middle-class households caught in high-tax states like New York and California.
Donald Trump put the kibosh on the idea at the time, but Tax Hike Fever has continued to percolate on the Hill. This morning, Trump backed down a bit from his previous opposition, but warned Republicans that they would hand Democrats a midterm bat with which to beat them:
The problem with even a “TINY” tax increase for the RICH, which I and all others…
