US President Donald Trump's administration intends to raise taxes for wealthy Americans. According to official sources from Axios, these measures are being developed to cover financial losses.
Reports indicate that the Trump administration is currently exploring options to eliminate certain existing tax deductions. In particular, the issue of revising the tax system by eliminating the estate tax is under discussion.
During the presidential campaign, Trump mentioned several times the elimination of the estate tax and confirmed this intention after the inauguration. For some states, this tax is considered a major source of revenue for the entertainment industry.
Research shows that only 2.6 percent of Americans belong to the high-income bracket that could see this tax increase. Additionally, public opinion indicates support for such measures.
However, the Republican Party and most of its members are opposing this initiative. They argue that this policy could lead to the loss of major financial sponsors for the party. Therefore, a final decision on this proposal has not yet been made.
This tax policy of the Trump administration could lead to intense debates between Republicans and Democrats. Furthermore, these changes could significantly impact the US economy and the actions of large business owners.
