Sources: Trump urges House Speaker to raise top tax rate

US President Donald Trump on the phone with House Speaker Johnson on Wednesday urged him to raise the top tax rate and close the carried interest tax loophole in upcoming legislation, according to people familiar with the matter on Thursday. The call comes as the Republican-controlled House of Representatives pushes ahead with the president's legislative agenda to extend the preferential policies for businesses and individuals introduced by Trump's 2017 Tax Cuts and Jobs Act, while eliminating taxes on tip income, overtime pay and social security benefits. Johnson and other top Republicans are currently resisting proposals to raise tax rates on the wealthy. Treasury Secretary Vincent Bescent made it clear to reporters last week that Trump had ruled out the idea. But Republicans are still under pressure from MAGA supporters to limit tax breaks for wealthy groups and corporations. Jason Smith, chairperson of the House Ways and Means Committee, revealed in a recent interview that his tax legislature may take action to close tax loopholes that benefit the wealthy.