Tax rates

President Donald Trump said he is open to the idea of higher taxes on millionaires but worries that a levy increase could hurt the party.

Trump's remarks are likely to pour cold water on discussions about creating a new 40% tax bracket for people earning $1 million or more.

The Budget Lab at Yale projects that taxing income over $1 million at a 40% rate would generate $420 billion over a decade.

President Donald Trump is considering ideas to raise taxes on the rich as a way to partially offset revenue losses from his tax package.

Republicans in the White House, Senate and House are drafting analyses on how best to craft a new tax bracket for the wealthiest Americans.

The openness to a new 40% tax bracket for millionaires comes after decades of Republicans opposing any form of tax increase.

From those with no corporate tax at all, to those that tax everything they can — a guide to most and least competitive states when it comes to taxing businesses.

Who controls how many branches of government is having repercussions at every level.

The highest marginal tax rate for 2025 is 37% and the lowest is 10%.

In less than 30 days, Americans will elect the politicians who will set policy for the next two years in Congress and four years at the White House.