House Speaker Mike Johnson indicated caution over Donald Trump’s proposal about cutting income tax on tips. Johnson stated that Trump’s key campaign pledge would need a financial backup to become possible.
On November 17th CNN’s State of the Union, Johnson said the ending tax on tips is “one of the promises that he wants to deliver on”. However to “make that happen in Congress. You’ve got to do the math”
He further added that Trump intended to push his economic plans forward as soon as the majority of the Republican Congress was in place. Moreover, the financial possibility of this proposal must be considered carefully.
Trump also plans to cut taxes on overtime, Social Security checks, and tips as part of his electoral campaign for his comeback to the White House.
Johnson, who was with Trump at a UFC event in New York, said, “You have got to make sure that these new savings for the American people can be paid for and that the economy is a pro-growth economy.”
Trump’s tax-cutting goals could be impacted next year
In the coming year, Congress will face the expiration of the provisions from the Republican tax bill of 2017. This could impact Trump’s long-term tax-cut goals, as he has made promises to end personal income tax cuts and corporate taxes.
Meanwhile, Trump is setting up members of the cabinet for his second round. This includes Representative Matt Gatez (Attorney General), Robert F Kennedy Jr (Secretary of Health and Human Services), and former Representative Tulsi Gabbard (Director of National Intelligence).
While Gaetz is under investigation for reported sexual misconduct, RFK Jr has faced criticism for voicing anti-vaccine propaganda. Therefore, these nominations may face resistance as acknowledged by Donald Trump Jr. Despite the controversial appointments, Trump’s son argued that these names were picked to “actually get things done”.
Furthermore, he also said that the transition team has alternative lists for cabinet positions as well with multiple names for each role. He said “I think we have control of the Senate because of my father” adding that John Thune’s rise owed credit for Trump’s influence.
