House Speaker Mike Johnson expressed skepticism over a proposal that could raise the top income tax rate to 40% for Americans earning $1 million or more annually, signaling that such an idea is not in line with the broader goals of his party.
Speaking on Sunday, Johnson emphasized that Republicans remain committed to reducing taxes across the board. “We’re the party of tax relief, and that’s a principle we’ve consistently supported,” he said, responding to reports that some GOP lawmakers are considering the rate increase as a way to help fund a new tax package currently under development.
While various proposals are being discussed behind the scenes, Johnson urged caution. “There are many conversations underway, but I wouldn’t bet on any specific outcome just yet,” he said. “Let’s see how this plays out over the next five or six weeks as committees continue their negotiations.”
Johnson underscored that any final package will need to meet a high threshold of support to move forward, noting the 218 votes required in the House and 51 in the Senate. He assured that no bill will be brought to the floor unless there is broad agreement and a level of comfort among lawmakers.
The proposed increase, which would raise the current top tax rate from 37% to between 39% and 40%, is one of several ideas being floated as lawmakers work to finalize the details of the package. However, Johnson’s comments suggest that the idea faces resistance from within the party’s leadership.
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