In a surprising departure from his earlier tax-cutting agenda, US President Donald Trump is now advocating a significant tax increase on America's wealthiest individuals. The aim is to fund tax relief for the middle class and garner cross-party support ahead of the 2024 election.
Trump is proposing to restore the top federal income tax rate to 39.6%, up from the current 37%, targeting individuals earning at least $2.5 million (£1.96 million) annually. For married couples, the threshold would be $5 million (£3.92 million).
