Sources: Trump urges House Speaker to raise top tax rate

According to sources familiar with the matter, US President Trump urged Speaker of the House Johnson in a phone call on Wednesday to raise the top tax rate and close the loophole in the upcoming legislation. This call comes at a time when the Republican controlled House of Representatives is pushing for the president's legislative agenda, which plans to extend the preferential policies for businesses and individuals under Trump's 2017 Tax Cuts and Jobs Act, while canceling taxes on tip income, overtime pay, and social security benefits. Johnson and other senior Republican officials are currently resisting proposals to raise taxes on the wealthy. Treasury Secretary Besson made it clear to reporters last week that Trump has ruled out this idea. But the Republican Party still faces pressure from MAGA supporters to limit tax incentives for the wealthy and corporate groups. Jason Smith, chairman of the House Ways and Means Committee, revealed in a recent interview that his tax legislative body may take action to end tax loopholes that benefit the wealthy class.