💨 Abstract

Congress is drafting a trillion-dollar tax bill for President Trump, with a debate on taxing millionaires arising. While Trump has shown interest in taxing the wealthy, Republican leaders, including Speaker Mike Johnson, oppose the idea. Former Trump strategist Stephen Bannon and others advocate for a tax hike on households earning $1 million or above, arguing it would generate federal revenue and ensure wealthy Americans pay their fair share.

Courtesy: wtop.com

Summarized by Einstein Beta 🤖